(70 ILCS 810/31) (from Ch. 96 1/2, par. 6434)
Sec. 31.
A forest preserve district under this Act has the power from time to time to
construct, equip, acquire, extend, improve, maintain, and operate
recreational facilities, including but not limited to natatoriums,
swimming pools, ice skating rinks, tennis courts, golf courses, bicycle trails, toboggan
slides and ski areas, or any combination thereof, and all necessary
related facilities, to borrow money therefor, and as evidence thereof,
to issue and sell bonds. Such bonds shall be payable solely from the
revenue derived from the operation of such facility or facilities
constructed, equipped, acquired, extended, or improved in whole or in
part with the proceeds of such bonds issued for the construction,
equipping, acquisition, extension or improvement of such facility or
facilities and shall be secured by a pledge of the revenues as herein
provided of such facility or facilities or any combination thereof so
constructed, equipped, acquired, extended or improved.
Such bonds may be issued in such amounts as may be necessary to
provide sufficient funds to pay all the cost of the construction,
equipping, acquisition, extension or improvement of such facility or
facilities or any combination thereof, including the cost of acquisition
of any land, as well as the engineering, legal, fiscal and other
expenses, together with interest on the bonds to a date 12 months
subsequent to the estimated date of completion. All bonds issued
hereunder shall have all qualities of negotiable instruments under the
laws of this State.
(Source: P.A. 80-320.)
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