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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(70 ILCS 810/35) (from Ch. 96 1/2, par. 6438)
Sec. 35.
All 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 any bonds issued under Sections
31 through 39 of this Act for the construction, equipping,
acquisition, extension, or improvement of such facility or facilities
shall be deposited in a separate fund. Each fund shall be used only for
paying the cost of operation and maintenance of the recreational
facility or facilities or any combination thereof constructed, equipped,
acquired, extended or improved in whole or in part with the proceeds of
such bonds so issued for such facility or facilities, and for paying the
principal of and interest on the bonds so issued and creating the
accounts provided for by the ordinance authorizing their issuance.
Such forest preserve district shall install and maintain a proper
system of account for each fund, showing the amount received and
disbursed from the operation of such facility or facilities. At least
once each year, such district shall have such accounts for bonds
properly audited, and the report of this audit shall be open to the
public for inspection at all times.
(Source: P.A. 80-320.)
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