(70 ILCS 1205/9.2-4) (from Ch. 105, par. 9.2-4)
Sec. 9.2-4.
Whenever revenue bonds are issued under Section 9.2-1 of this Article,
all revenue derived from the operation of the tennis, handball,
racquetball, or squash courts or zoos shall be deposited in a separate fund
designated as the "Tennis Court Fund", "Handball Court Fund", "Racquetball
Court Fund", "Squash Court Fund", or "Zoo Fund" of the park district. This
fund shall be used only in paying the cost of operation and maintenance of
the tennis, handball, racquetball, or squash courts or zoo, in providing an
adequate depreciation fund, and in paying the principal of and interest
upon the revenue bonds of the district issued under Section 9.2-1 of this
Article.
A depreciation fund is a fund for such replacements as may be necessary
from time to time for the continued effective and efficient operation of
the tennis, handball, racquetball, or squash courts or zoo. Such fund shall
not be allowed to accumulate beyond a reasonable amount necessary for the
purpose and shall not be used for extensions to the tennis, handball,
racquetball, or squash courts or zoo.
(Source: P.A. 77-2173.)
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