(65 ILCS 5/11-123-14) (from Ch. 24, par. 11-123-14)
Sec. 11-123-14. Every city and village owning and operating, or owning and
leasing any portion of a utility, shall keep the accounts for the utilities
separate and distinct from other municipal accounts and in such manner as
to show the true and complete financial standing and results of the
municipal ownership and operation or of the municipal ownership and
leasing, as the case may be. These accounts shall be so kept as to show:
(1) the actual cost of the municipality of the utilities owned; (2) all
costs of maintenance, extension, and improvement; (3) all operating
expenses of every description, in case of municipal operation, whether of
the whole or of a part of the utilities; (4) if water or other service is
furnished for the use of the utilities without charge, as nearly as
possible, the value of that service, and also the value of any service
rendered by the utilities to any reasonable allowances for interest,
depreciation, and other municipal department without charge; (5) insurance;
and (6) estimates of the amount of taxes that would be chargeable against
the utilities if owned by a private corporation. The corporate authorities
of the municipality shall have printed annually for public distribution, a
report showing the financial standing and results, in the form specified in
this section, of the municipal ownership and operation, or of municipal
ownership and leasing. This report shall be published in one or more
newspapers published in the municipality, or, if no newspaper is published
therein, then in one or more newspapers with a general circulation within
the municipality. In municipalities with less than 500 population in which
no newspaper is published, publication may instead be made by posting a
notice in 3 prominent places within the municipality.
The accounts of the utilities shall be examined at least once a year by
a licensed Certified Public Accountant permitted to perform audits under the Illinois Public Accounting Act, who shall report to the corporate authorities the
results of his examination. This accountant shall be selected in
such manner as the corporate authorities may direct, and he shall receive
for his services such compensation, to be paid out of the revenue from the
utilities, as the corporate authorities may prescribe.
(Source: P.A. 94-465, eff. 8-4-05.)
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(65 ILCS 5/11-123-15) (from Ch. 24, par. 11-123-15)
Sec. 11-123-15.
Every city and village has the power to use any portion of
a utility for public recreation purposes if, in the judgment of the
corporate authorities of the municipality, the utility can be used for
public recreation purposes without interfering with the use of the utility
for transportation purposes.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-123-16) (from Ch. 24, par. 11-123-16)
Sec. 11-123-16.
In connection with the use of any portion of a utility for
recreation purposes, as specified in Section 11-123-15, every city and
village has the power to provide, by lease or contract, for the sale in or
on the utility of food, non-alcoholic drinks, and merchandise, and for the
giving in or on the utility of dances, concerts, exhibitions, and other
entertainments, and for check-room privileges incidental thereto. Upon
reasonable notice, however, such a lease or contract is terminable by the
municipality, either with or without compensation therefor as may be
therein stipulated, whenever in the judgment of the corporate authorities
of the municipality the transportation necessities make such termination
desirable. No such lease or contract shall be entered into for a period
exceeding 5 years except in conformity with the provisions of Section
11-123-12.
(Source: Laws 1961, p. 576.)
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