(65 ILCS 5/11-141-12) (from Ch. 24, par. 11-141-12)
Sec. 11-141-12.
Every municipality also may construct or acquire a sewerage
system to serve a particular locality within its corporate limits or to
extend or improve an existing sewerage system for the purpose of serving a
particular locality within the municipality not theretofore served by its
existing sewerage system, and may pay the cost thereof by the issuance and
sale of revenue bonds of the municipality, payable solely from the revenue
derived from the operation of the sewerage system constructed or acquired
for that particular locality, or from the revenue to be derived from the
operation of the improvements and extensions of an existing system. Except
insofar as inconsistent with this section, the provisions of Section
11-141-2 govern all matters connected with the bonds issued under this
section.
Bonds issued under this section are payable solely from revenue derived
from the operation of that sewerage system or improvement or extension.
These bonds shall not, in any event, constitute an indebtedness of the
municipality within the meaning of any constitutional or statutory
limitation, and it shall be so stated on the face of each bond. The face of
each bond shall also contain a description of the locality for which that
system or improvement or extension is constructed or acquired.
(Source: Laws 1961, p. 576.)
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