Laserfiche WebLink
WHEREAS, the City is a person interested in the vacation of <br /> the subject roadway and desires to enter into this Agreement with <br /> the Highway Commissioner of the Road District pursuant to <br /> Division 3 of Article 6 of the Illinois Highway Code (I11 . Rev. <br /> Stat. Chapter 121, §6-301 et seq. ) , including but not limited to <br /> §6-310 thereof; and <br /> WHEREAS, the City understands and recognizes that the Road <br /> District will incur expenses in connection with the vacation of <br /> the subject roadway and the performance by the Highway <br /> Commissioner of the Road District of his statutory duties in <br /> connection with the proceeding to vacate the subject roadway; and <br /> WHEREAS, the City further understands and recognizes that <br /> the Road District will lose revenue used for road purposes by <br /> reason of the ownership of and use by the City, as a real estate <br /> tax exempt entity, of real estate within the Town of Oakley; and <br /> WHEREAS, the City desires to lessen the burden of payment of <br /> such expenses from the road fund of the Road District, and, to <br /> aid the Road District in defraying the lost revenue resulting <br /> from the ownership of real estate in the township by the City. <br /> NOW THEREFORE, in consideration of the terms and condition <br /> contained herein, the parties hereto agree as follows : <br /> -2- <br />