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Illinois Compiled Statutes - Full Text
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(70 ILCS 1830/26.1) (from Ch. 19, par. 526.1)
Sec. 26.1.
Upon the issue of any revenue bonds under this Act the Board shall fix
and establish rates, charges and fees for the use of facilities acquired,
constructed, reconstructed, extended or improved with the proceeds derived
from the sale of such revenue bonds sufficient at all times with other
revenues of the District, if any, to pay: (a) the cost of maintaining,
repairing, regulating and operating such facilities; and (b) the bonds and
interest thereon as they become due, and all sinking fund requirements and
other requirements provided by the ordinance authorizing the issuance of
the bonds or as provided by any trust agreement executed to secure payment
thereof.
To secure the payment of any or all revenue bonds and for the purpose of
setting forth the covenants and undertaking of the District in connection
with the issuance of revenue bonds and the issuance of any additional
revenue bonds payable from such revenue income to be derived from the
terminals, terminal facilities, port facilities, aquariums, museums,
planetariums, climatrons and other buildings, or facilities which the
District has the power to acquire, construct, reconstruct, extend or
improve, the District may execute and deliver a trust agreement or
agreements except that no lien upon any physical property of the District
shall be created thereby. A remedy for any breach or default of the terms
of any such trust agreement by the District may be by mandamus proceedings
in the circuit court to compel performance and compliance
therewith, but the trust agreement may prescribe by whom or on whose behalf
such action may be instituted.
(Source: P.A. 79-1361.)
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