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Illinois Compiled Statutes
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MUNICIPALITIES (65 ILCS 5/) Illinois Municipal Code. 65 ILCS 5/11-129-8
(65 ILCS 5/11-129-8) (from Ch. 24, par. 11-129-8)
Sec. 11-129-8.
Any municipality with a population of less than 500,000
hereafter authorizing the issuance of bonds to pay the cost of acquiring a
water works, which bonds are payable solely from the revenue of such water
works, may pursuant to ordinance adopted by the governing body of such
municipality and as an incident thereto and for the purpose of assuring the
holder or holders of such bonds of a continuous, efficient management and
operation of such water works, provide for the establishment of a municipal
water board consisting of not less than 3 nor more than 7 members to
administer the action and function of such municipality in managing,
maintaining and operating such water works. The members of the board shall
be selected by the city council, board of trustees, or other governing body
of such municipality, and shall serve for such terms, receive such
compensation and successors shall be selected, as shall be specified by the
ordinance providing for the establishment of such board. The board shall
approve all contracts for materials and services and shall employ all such
persons as the proper and successful operation of such water works system
may require, including a superintendent, an engineer and an attorney. No
disbursement shall be made of any revenues of such water works system for
operation and maintenance expenses or to pay the cost of any additions or
improvements thereto, except such as are approved by such board. The holder
of any bond issued for the purpose of acquiring any such water works
system, or extending or improving the same may compel the board to perform
any act in respect to the management, maintenance or operation of the water
works system as may be required by the laws of this state or as may have
been undertaken in the ordinance or ordinances pursuant to which such board
was established or the bonds issued. If the adoption of such ordinance was
made a condition to the sale of water revenue bonds issued for the purpose
of acquiring such water works system, any such ordinance shall not be
repealed or amended prior to the retirement of the bonds without the
consent of the holders of two-thirds of the bonds then outstanding.
(Source: Laws 1961, p. 576.)
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65 ILCS 5/11-129-9
(65 ILCS 5/11-129-9) (from Ch. 24, par. 11-129-9)
Sec. 11-129-9.
In addition to other projects authorized by this
Division 129, any municipality with a population under 500,000 may
construct or acquire a water-supply system to serve a particular
locality within or without its corporate limits or to extend or improve
an existing water-supply system for the purpose of serving a particular
locality within or without the municipality not theretofore served by
its existing system, and may pay the cost thereof by the issuance and
sale of revenue bonds of the municipality, payable solely from the
revenue derived from the operation of the water-supply system
constructed or acquired for that particular locality, or from the
revenue derived from the operation of the improvements and extensions of
an existing system.
Except insofar as inconsistent with Sections 11-129-9 through
11-129-11, the provisions of Section 11-129-1 through 11-129-8 shall
govern all matters connected with projects under this Section. In
addition to the requirements of Section 11-129-3, an ordinance for a
project under this Section shall contain a description of the particular
locality to be served by the system, improvement or extension.
(Source: P.A. 80-1382.)
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65 ILCS 5/11-129-10
(65 ILCS 5/11-129-10) (from Ch. 24, par. 11-129-10)
Sec. 11-129-10.
After adoption of an ordinance for a project under
Section 11-129-9, the corporate authorities may make and enforce all
needful rules and regulations in connection with the construction,
acquisition, improvement, or extension, and with the management and
maintenance of the project to be constructed or acquired. The corporate
authorities shall establish rates or charges to each user of the
water-supply system, improvement or extension at a rate which will be
sufficient at all times to pay the principal and interest of any bonds
issued to pay the cost thereof, maintenance, and operation of the
system, improvement, or extension and an adequate depreciation fund
therefor. Charges or rates shall be established, revised, and
maintained by ordinance and become payable as the corporate authorities
may determine by ordinance.
(Source: P.A. 80-1382.)
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65 ILCS 5/11-129-11
(65 ILCS 5/11-129-11) (from Ch. 24, par. 11-129-11)
Sec. 11-129-11.
All revenue derived from the operation of a
water-supply system, improvement or extension constructed or acquired
under Section 11-129-9 shall be set aside as collected and deposited in
a special fund designated as a municipal water fund for the particular
locality. The fund shall be used only for the purpose of paying the
cost of operating and maintaining the water-supply system, improvement
or extension, providing an adequate depreciation fund, and paying the
principal and interest on the bonds issued by the municipality under
Section 11-129-9 for the purpose of constructing or acquiring the
system, improvement or extension.
(Source: P.A. 80-1382.)
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65 ILCS 5/Art. 11 Div. 130
(65 ILCS 5/Art. 11 Div. 130 heading)
DIVISION 130.
CONSTRUCTION AND PURCHASE
OF WATERWORKS
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65 ILCS 5/11-130-1
(65 ILCS 5/11-130-1) (from Ch. 24, par. 11-130-1)
Sec. 11-130-1.
Any municipality may purchase or construct waterworks or
construct improvements to its waterworks as provided in this Division 130.
(Source: Laws 1961, p. 576.)
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65 ILCS 5/11-130-2
(65 ILCS 5/11-130-2) (from Ch. 24, par. 11-130-2)
Sec. 11-130-2.
The term "waterworks", as used in this Division 130, means
and includes a waterworks system in its entirety or any integral part
thereof, including mains, hydrants, meters, valves, standpipes, storage
tanks, pumping tanks, intakes, wells, impounding reservoirs, or
purification plants.
(Source: Laws 1961, p. 576.)
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65 ILCS 5/11-130-3
(65 ILCS 5/11-130-3) (from Ch. 24, par. 11-130-3)
Sec. 11-130-3.
Whenever the corporate authorities of any municipality
determine to purchase or construct waterworks under the provisions of this
Division 130, they shall have an estimate made of the cost thereof and, by
ordinance, shall provide for the issuance of revenue bonds under the
provisions of this Division 130. The ordinance shall set forth a brief
description of the contemplated purchase or construction, the estimated
cost thereof, the amount, rate of interest, time and place of payment, and
other details in connection with the issuance of the bonds. The bonds shall
bear interest at not more than the maximum rate authorized by the Bond
Authorization Act, as amended at the time of the making of the contract,
payable semi-annually, and shall be payable at such times and places not
exceeding 20 years from their date as shall be prescribed in the ordinance
providing for their issuance. This ordinance shall also declare that a
statutory mortgage lien exists upon the property
so to be purchased or constructed, fix minimum rates for water to be
collected prior to the payment of all of the revenue bonds so issued, and
shall pledge the revenue derived from the operation of the waterworks for
the purpose of paying those bonds and the interest thereon. This pledge
shall definitely fix and determine the amount of revenue which must be set
apart and applied to the payment of the principal of and interest on the
bonds and the proportion of the balance of the revenue which is to be set
aside as a proper and adequate depreciation account. The remainder of the
revenue shall be set aside for the reasonable and proper operation and
maintenance of the waterworks. The rates to be charged for the services
from the waterworks shall be sufficient to provide for the payment of
interest upon all bonds and to create a sinking fund to pay the principal
thereof as and when the bonds become due, to provide for the operation and
maintenance of the system and to provide an adequate depreciation fund.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
The amendatory Acts of 1971, 1972 and 1973 are not a limit upon any
municipality which is a home rule unit.
(Source: P.A. 86-4.)
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65 ILCS 5/11-130-4
(65 ILCS 5/11-130-4) (from Ch. 24, par. 11-130-4)
Sec. 11-130-4.
Within 10 days after such an ordinance has been passed it
shall be published at least once, with a notice to all persons concerned
stating that the ordinance has been adopted in one or more newspapers
published in the municipality, or, if no newspaper is published therein,
then in one or more newspapers with a general circulation within the
municipality. In municipalities with less than 500 population in which no
newspaper is published, publication may instead be made by posting a notice
in 3 prominent places within the municipality. Such notice shall state that
the municipality contemplates the issuance of the bonds described in the
ordinance, and that any person interested may appear before the corporate
authorities upon a certain date, which shall not be less than 10 days
subsequent to the publication or posting of the ordinance and notice, and
present protests. At this hearing all objections and suggestions shall be
heard, and the corporate authorities shall take such action as they shall
deem proper in the premises.
(Source: Laws 1961, p. 576.)
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65 ILCS 5/11-130-5
(65 ILCS 5/11-130-5) (from Ch. 24, par. 11-130-5)
Sec. 11-130-5.
Bonds provided for in this Division 130 shall be issued in
such amounts as may be necessary to provide sufficient funds to pay all
costs of the purchase or construction, including engineering, legal, and
other expenses, together with interest to a date 6 months subsequent to the
estimated date of completion. Bonds issued under this Division 130 are
negotiable instruments. They shall be executed by the mayor, or president
and by the municipal clerk and shall be sealed with the corporate seal of
the municipality. In case any of the officers whose signatures appear on
the bonds, or coupons attached thereto, ceases to hold his office before
delivery of the bonds, his signature nevertheless shall be valid and
sufficient for all purposes the same as if it had remained in office until
the delivery of the bonds. The bonds may be sold at not less than 90 cents
on the dollar, and the proceeds derived therefrom shall be used exclusively
for the purposes for which the bonds were issued. The bonds may be sold at
one time or in parcels as funds are needed, but no bond shall be delivered
until bids for the construction, or the offer to sell, in the case of a
purchase, has been received, or judgment has been entered in the event of a
condemnation, and it is apparent that the authorized bonds will pay for the
contemplated waterworks.
(Source: Laws 1961, p. 576.)
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65 ILCS 5/11-130-6
(65 ILCS 5/11-130-6) (from Ch. 24, par. 11-130-6)
Sec. 11-130-6.
Revenue bonds issued under this Division 130 shall be
payable solely from the revenue derived from the operation of the
waterworks on account of which the bonds were issued. These bonds shall not
in any event constitute an indebtedness of the municipality within the
meaning of any constitutional or statutory limitation. It shall be plainly
stated on the face of each bond that the bond has been issued under this
Division 130 and that it does not constitute an indebtedness of the
municipality within the meaning of any constitutional or statutory
limitation.
(Source: Laws 1961, p. 576.)
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65 ILCS 5/11-130-7
(65 ILCS 5/11-130-7) (from Ch. 24, par. 11-130-7)
Sec. 11-130-7.
There is hereby created a statutory mortgage lien upon the
waterworks so purchased or constructed from the proceeds of the bonds
authorized to be issued under this Division 130. This lien exists in favor
of the holder of each of the bonds, and in favor of the holder of each of
the coupons attached to the bonds. The waterworks shall remain subject to
this statutory mortgage lien until the principal and interest of the bonds
are paid in full. Any holder of bonds issued under this Division 130, or of
any coupons representing interest accrued thereon, may, in a civil action,
enforce the statutory mortgage lien hereby created, and may compel the performance
of the duties of the officials of
the issuing municipality set forth in this Division 130.
If there is a default in the payment of the principal of and/or interest
upon any of these bonds, the circuit court
in any proper action
may appoint a receiver to administer the waterworks on behalf of the
municipality with power to charge and collect rates sufficient to provide
for the payment of the bonds and interest thereon, and for the payment of
the operating expenses and with power to apply the revenue in conformity
with this Division 130 and the ordinance providing for the issuance of the
bonds.
(Source: P.A. 79-1361.)
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65 ILCS 5/11-130-8
(65 ILCS 5/11-130-8) (from Ch. 24, par. 11-130-8)
Sec. 11-130-8.
Rates for water fixed precedent to the issuance of bonds
shall not be reduced until all of the bonds have been fully paid, and,
whenever necessary, may be increased in amounts sufficient to provide for
the payment of the bonds, both principal and interest, and to provide
proper funds for the depreciation account and operation and maintenance
charges.
If any surplus accumulates in the operating and maintenance fund in
excess of the cost of maintaining and operating the waterworks during the
remainder of the then current fiscal year, and during the next ensuing
fiscal year, that excess may be transferred by the corporate authorities
either to the depreciation account or to the bond and interest redemption
account as the corporate authorities may designate. If any surplus
accumulates in the depreciation account over and above that which the
corporate authorities find may be necessary for the probable replacements
which may be needed during the remainder of the then present fiscal year
and the next ensuing fiscal year, that excess may be transferred to the
bond and interest redemption account. If any surplus exists in the bond and
interest redemption account that surplus shall be applied insofar as
possible in the purchase or retirement of outstanding revenue bonds payable
from that account, and for that purpose the corporate authorities are
hereby authorized to purchase bonds not due in the open market at not more
than the fair market value thereof.
(Source: Laws 1961, p. 576.)
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