Illinois Code § 20 ILCS 3501/801-30

The Authority possesses all the powers as a body corporate
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necessary and convenient to accomplish the purposes of this Act, including,
without any intended limitation upon the general powers hereby conferred, the
following:

 
(a) to enter into loans, contracts, agreements and mortgages in any manner
connected with any of its corporate purposes and to invest its funds;

 
(b) to sue and be sued;

 
(c) to employ agents and employees and independent contractors necessary to
carry out its purposes and to fix their compensation, benefits and terms and
conditions of their employment;

 
(d) to have and use a common seal and to alter the same at pleasure;

 
(e) to adopt all needful ordinances, resolutions, bylaws, rules and
regulations for the conduct of its business and affairs and for the management
and use of the projects developed, constructed, acquired and improved in
furtherance of its purposes;

 
(f) to have and exercise all powers and be subject to all duties otherwise
necessary to effectuate the purposes of this Act.
If any of the powers set forth in this Act are exercised within the
jurisdictional limits of any municipality, all ordinances of the municipality
shall remain in full force and effect and shall be controlling.

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