(70 ILCS 805/18.1) (from Ch. 96 1/2, par. 6335)
Sec. 18.1.
Any forest preserve district in a county with a population of
less than 3,000,000, has the power from time to time, before, on, or after
the effective date of this amendatory Act of 1996, to construct,
equip, acquire, extend, improve, restore, maintain, and operate
recreational and
cultural facilities, including but not limited to natatoriums, swimming pools,
ice skating rinks, tennis courts, golf courses, toboggan slides, ski
areas, museums, historic buildings, botanical gardens, cultural and
environmental
education centers,
or any combination thereof, and all necessary related facilities,
such as but not limited to gift shops, cafeterias, snack bars, restaurants,
or any combination thereof, to borrow money therefor, and as evidence
thereof, to issue and sell
bonds. Such bonds shall be payable solely from the revenue derived from
the operation of such facility or facilities constructed, equipped,
acquired, extended, or improved in whole or in part with the proceeds of
such bonds issued for the construction, equipping, acquisition,
extension or improvement of such facility or facilities and shall be
secured by a pledge of the revenues as herein provided of such facility
or facilities or any combination thereof so constructed, equipped,
acquired, extended or improved.
Such bonds may be issued in such amounts as may be necessary to
provide sufficient funds to pay all the cost of the construction,
equipping, acquisition, extension or improvement of such facility or
facilities or any combination thereof, including the cost of acquisition
of any land, as well as the engineering, legal, fiscal and other
expenses, together with interest on the bonds to a date 12 months
subsequent to the estimated date of completion. All bonds issued
hereunder shall have all qualities of negotiable instruments under the
laws of this State.
(Source: P.A. 89-492, eff. 6-21-96.)
|