(60 ILCS 1/205-145)
Sec. 205-145. Special fund. All revenue derived from the operation of a
waterworks system or sewerage system, or combined waterworks and sewerage
system, constructed, acquired, extended, or improved to serve a particular
locality shall be set aside as collected and shall be deposited in a special
fund of the township. That fund shall be used only (i) to pay the cost of
operating and maintaining the waterworks system or sewerage system, or combined
waterworks and sewerage system, constructed, acquired, extended, or improved to
serve a particular locality, (ii) to provide an adequate depreciation fund, and
(iii) to pay the principal and interest on the bonds issued by the township
under Sections 205-130 through 205-141 for the purpose of constructing,
acquiring, extending, or improving the system.
(Source: P.A. 100-528, eff. 9-22-17.)
|