11-1100 - Contracts for water supply.
§ 11-1100 Contracts for water supply. The board of water commissioners may contract, in the name of the village, with an individual or corporation for supplying water to the village for extinguishing fires or for other public purposes; but such contracts shall not be made for a longer period than forty years. The amount of such contract shall be paid in installments in accordance with the resolution of the board authorizing same.