(65 ILCS 5/11-94-8)
(from Ch. 24, par. 11-94-8)
A municipality which owns a swimming pool or natatorium and
is subject to this Act may finance the cost of substantial improvements,
repairs or replacements by the issuance of bonds payable solely from the
revenue of the swimming pool or natatorium. The bonds shall be issued in
accordance with the terms of this Act relating to the original issue of
swimming pool or natatorium bonds, and may be subordinate to outstanding
bonds issued for the purchase or construction of the swimming pool or
The holders of the bonds have the same rights and privileges, subject to
any subordination that may be provided for, as the holders of the original
bonds issued under this Division.
The additional revenue bonds may be issued subject to the referendum
provision contained in Section 11-94-2 of this Act.
(Source: Laws 1967, p. 1342.)