Illinois-American Water Co. v. City of Peoria

In this declaratory judgment action, plaintiff Illinois-American Water Company (company) appeals the trial court’s decision upholding the validity of a 113-year-old purchase option in an agreement between its predecessor and the City of Peoria for the sale of a waterworks. The company also appeals the trial court’s decision that it lacked standing to bring an action against defendant Peoria Area Advancement Group, L.L.C. (PAAG), for providing financing to the city for this litigation. Under the facts of this case, we affirm and hold as follows: (1) the city had the authority to include the…