(65 ILCS 5/11-139-9) (from Ch. 24, par. 11-139-9)
Sec. 11-139-9.
Whenever revenue bonds are issued under this Division 139,
sufficient revenue derived from the operation of such a combined waterworks
and sewerage system shall be deposited in a separate fund, designated as
the waterworks and sewerage fund of the municipality. It shall be used only
(1) to pay the cost of maintenance and operation of the combined system,
(2) to provide an adequate depreciation fund, and (3) to pay the principal
of and interest upon the revenue bonds of the municipality issued under
this Division 139.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-139-10) (from Ch. 24, par. 11-139-10)
Sec. 11-139-10.
Any municipality operating a combined waterworks and
sewerage system under this Division 139, shall set up and maintain a proper
system of accounts showing the amount of revenue received from the combined
waterworks and sewerage system and the application of this revenue. At
least once each year the municipality shall have these accounts properly
audited, and a report of this audit shall be open to the public for
inspection at all reasonable times.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-139-11) (from Ch. 24, par. 11-139-11)
Sec. 11-139-11.
The holder of any bond or of any coupon of any bond issued under this
Division 139 may proceed by civil action to compel performance of all
duties required by this Division 139, including the making and collection
of sufficient rates for the purposes specified in this Division 139 and the
application of the revenue therefrom to those purposes.
(Source: P.A. 77-942.)
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