(70 ILCS 3705/22) (from Ch. 111 2/3, par. 209)
Sec. 22.
Rates and charges for the use and service of the waterworks
properties acquired by any district organized under the provisions of this
Act shall be sufficient at all times to pay the cost of maintenance and
operation, to pay the principal of and interest upon all revenue bonds
issued under the provisions of Section 16 of this Act, and to provide a
reasonable depreciation fund as established pursuant to the provisions of
the ordinance authorizing the issuance of any such revenue bonds, and the
holder of any bond or bonds or any of the interest coupon or coupons of any
revenue bonds of any such district may in any civil action, mandamus, injunction or
other proceeding enforce and compel the performance of all duties required
by this Act and the covenants and undertakings set forth in any bond
ordinance, including the making and collecting of sufficient rates and
charges for the use or service of the waterworks properties of the
district, and the proper application of the income and revenue therefrom.
(Source: P.A. 83-345.)
|