(70 ILCS 1205/9-1) (from Ch. 105, par. 9-1)
Sec. 9-1.
Any park district has the power, subject to the limitations of
Sections 9-1 to 9-1f hereof, inclusive, to acquire, construct and operate
an outdoor or indoor swimming pool, or an artificial ice skating rink, and
other necessary facilities pertinent thereto, and extend or improve such
swimming pool or ice skating rink and facilities, borrow money, and as
evidence thereof to issue its bonds, payable solely from the revenue
derived from the operation thereof. These bonds may be issued in such
amounts as may be necessary to provide sufficient funds to pay all the
costs of the construction of the swimming pool, or the artificial ice
skating rink, including engineering, legal, and other expenses, together
with interest on the bonds to a date six months subsequent to the estimated
date of completion. The bonds are negotiable instruments and shall be
executed by the president and secretary of the district and countersigned
by the treasurer.
(Source: Laws 1967, p. 2446.)
|