(70 ILCS 2405/16.2) (from Ch. 42, par. 315.2)
Sec. 16.2.
The trustees of such district, when petitioned so to do by
not less than 10% of the legal voters of such district, shall certify
the proposition of whether the district should acquire,
purchase or construct, and thereafter operate, improve and extend a
waterworks, or any one or more waterworks, and to pay the cost of such
acquisition, purchase, construction, improvement or extension by the
issuance and sale of revenue bonds of the district, payable solely from
the revenue to be derived from the operation of the waterworks to the
proper election officials who shall submit the question at an election in
accordance with the general election law. Such election shall be governed
by the provisions of this
Act which relate to elections held to decide on the proposition of
issuing bonds of the district. The proposition shall be in substantially
the following form:
-------------------------------------------------------------- Shall the.... Sanitary Districtacquire by purchase or construction,and thereafter operate, improve or YESextend a waterworks and pay the costthereof by the issuance and sale of -----------------------revenue bonds of the districtpayable solely from the revenues to NObe derived from the operation of thewaterworks?--------------------------------------------------------------
If it appears that a majority of the voters, voting
on the proposition, have voted in favor thereof, then the trustees of
the district are authorized to acquire by purchase or construction, and
thereafter operate, improve or extend a waterworks, and to pay the cost
of such acquisition, purchase or construction, improvement or extension
by the issuance and sale of revenue bonds of the district payable solely
from the revenue to be derived from the operation of the waterworks.
(Source: P.A. 81-1489.)
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