|
HERBERT R. O'CONOR, GOVERNOR. 1091
accept and pay for any property condemned under this Act,
except from the funds provided under the authority of this
Act. In any proceedings to condemn, such orders may be
made by the Court having jurisdiction of the suit, action or
proceeding as may be just to the Authority and to the owners
of the property to be condemned; and if the Authority shall
deem it expedient to establish or construct the Market on any
lands, streets, alleys or public places, the title to which shall
then be in the City, the City, through its proper officials is
hereby authorized to convey title to such lands, streets, alleys,
or public places to the Authority upon payment to the City
the reasonable value of such lands, such value to be deter-
mined by the Authority and by the City Council; such pay-
ment to be in cash or in bonds of the Authority at par.
(7) To appoint and dismiss officers, agents and employes
including engineering, architectural and construction experts
and attorneys, and to fix their compensation;
(8) To borrow money for any of its corporate purposes
and to issue negotiable revenue bonds payable solely from
earnings of the Market, and to provide for the payment of the
same and for the rights of the holders thereof;
(9) To have and exercise jurisdiction, control, possession
and supervision of the existing market, or so much thereof
as the Authority shall purchase from the City, upon payment
of the purchase price of the existing market; and the Author-
ity shall be and is hereby authorized to abandon, remodel or
reconstruct the whole or any part of the existing market, or
incorporate the existing market or any part thereof into the
Market;
(10) To exercise any power usually possessed by private
corporations in performing similar functions, which is not in
conflict with the Constitution and laws of this State; and
(11) To do all things necessary and convenient to carry
out the powers expressly granted by this Act.
SEC. 5. And be it further enacted:
(Powers of the City. ) The City is hereby authorized and
empowered to convey to the Authority the existing market or
any part thereof upon receipt by the City of the purchase
price therefor, either in cash or in bonds.
The City is hereby authorized and empowered to vacate any
or all streets, alleys or other public places required to insure
proper operation of the Market and the full and complete
utilization of its facilities, and the City may grant to the
Authority the exclusive right to use such vacated streets,
alleys or other public places for the purpose of the Market,
subject to such terms and conditions and in such manner as
the City and the Authority may lawfully agree upon.
|