(65 ILCS 5/8-4-17) (from Ch. 24, par. 8-4-17)
Sec. 8-4-17.
Whenever refunding revenue bonds are issued under this
Division 4, sufficient revenues received from the operation of the
municipally-owned utility or facility shall be set aside as collected and
be deposited in a separate fund, which shall be used only in paying the
cost of operation and maintenance of the utility or facility, providing an
adequate depreciation fund, and paying the principal of and interest upon
the revenue bonds issued that are payable by their terms only from such
revenues.
(Source: Laws 1961, p. 576.)
|