(70 ILCS 1205/9.2-5) (from Ch. 105, par. 9.2-5)
Sec. 9.2-5.
Each park district which issues bonds and acquires or constructs or extends
or improves indoor or outdoor tennis courts, handball, racquetball, or squash
courts, or zoos and facilities shall charge for the use thereof at a rate
which at all times is sufficient to pay maintenance and operation costs,
depreciation, and the principal and interest on the bonds. Such district
may make, enact and enforce all needful rules and regulations for the construction,
acquisition, improvement, extension, management, maintenance, care and protection
of its courts or zoo and for the use thereof. Charges or rates for the use
of the courts or zoo facilities shall be such as the board may from time
to time determine.
While any bond issued under Section 9.2-1 of this Article
is outstanding such district is required to maintain and operate its tennis,
handball, racquetball, or squash courts or zoo facilities as long as it
can do so, out of the revenue derived from the operation thereof. It shall
not sell, lease, loan, mortgage or in any other manner dispose of the courts
or zoo facilities until all of the bonds so issued have been paid in full,
both principal and interest, or until provision has been made for the payment
of all the bonds and interest thereon in full. Nothing in this Section
prohibits any park district from leasing any such indoor or outdoor tennis
courts, handball, racquetball, or squash courts, or zoos and facilities
to any school district, municipality, or other unit of local government
or from entering into any other agreement with any school district, municipality,
or other unit of local government by which lease or other agreement such
indoor or outdoor tennis courts, handball, racquetball, or squash courts,
or zoos and facilities may be operated or used in whole or in part by or
for such school district, municipality, or other unit of local government,
where such lease or other agreement is not prohibited by the terms of such
revenue bonds or the ordinance of the park district authorizing them and
where the revenues of the park district derived from such lease or other
agreement are deposited in the fund required by Section 9.2-4 of this Act
in connection with such revenue bonds.
Such a park district shall install and maintain a proper system of accounts,
showing the amount of revenue received from the operation of its tennis,
handball, racquetball, or squash courts or zoo. At least once each year,
the district shall have the accounts properly audited. A report of this
audit shall be open for public inspection at all times.
(Source: P.A. 79-1423.)
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