(65 ILCS 5/Art. 11 Div. 137 heading) DIVISION 137.
CONTRACT FOR, PURCHASE OR LEASE
OF WATER AND SEWERAGE SYSTEMS
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(65 ILCS 5/11-137-1) (from Ch. 24, par. 11-137-1)
Sec. 11-137-1.
To enable municipalities to promote and procure the
construction and installation of waterworks and sewerage systems when it
becomes necessary for public health and welfare or for better sanitary
conditions of a municipality, each municipality may contract with any
person for a supply of water for public use, and for sewerage for drainage
and sanitary purposes of the municipality, for a period not exceeding 30
years. Any contract that is entered into by a municipality and pledged to
secure the bonds issued to construct any waterworks or sewerage system
shall enure at all times and under all conditions to the benefit of the
holders of any of the bonds so issued and for the payment of those bonds.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-137-2) (from Ch. 24, par. 11-137-2)
Sec. 11-137-2.
In all municipalities where any person has constructed
a waterworks or sewerage system, or both, the municipality may purchase
or lease that waterworks or sewerage system, or both, from the owners
thereof, subject to the provisions of this Division 137.
Before such a lease or purchase is binding upon the municipality, the
corporate authorities shall pass an ordinance authorizing the
municipality to lease or purchase that waterworks or sewerage system, or
both, and shall include in the ordinance the terms, as near as
practicable, upon which the lease or purchase shall be made. The
ordinance shall be published at least once, within 10 days after
passage, 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.
The publication or posting of the ordinance shall be accompanied by a
notice of (1) the specific number of voters required to sign a petition
requesting the question of authorizing the lease or purchase of a waterworks
or sewerage system to be submitted to the electors; (2) the time in which
such petition must be filed; and (3) the date of the prospective referendum.
The municipal clerk shall provide a petition form to any individual requesting one.
If no petition is presented to the corporate authorities as
hereinafter provided, within 30 days after the ordinance is so published
and posted, the corporate authorities may consummate the lease or
purchase of that waterworks or sewerage system, or both, as provided in
the ordinance. If within 30 days after the first publication of the
ordinance a petition is filed with the municipal clerk signed by electors
of the municipality numbering 10% or more of the number of registered
voters in the municipality, asking that the question of leasing or
purchasing that waterworks or sewerage system, or both, as provided in the
ordinance, be submitted to a vote, the clerk shall certify the proposition
and the corporate authorities shall designate an election at which the
question shall be submitted. If a majority of the votes cast on the
question are in favor thereof, the corporate authorities may complete the
lease or purchase, but if a majority of the votes cast on the question are
unfavorable, no further action shall be taken by the municipality for a
period of not less than 6 months. Thereafter, the same or another question
may be submitted as before.
(Source: P.A. 87-767.)
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(65 ILCS 5/11-137-3) (from Ch. 24, par. 11-137-3)
Sec. 11-137-3.
If any municipality is authorized to purchase a waterworks
or sewerage system, or both, as provided in Section 11-137-2, and if the
system is pledged to secure the payment of bonds, or other written
evidences of indebtedness, by a mortgage or trust deed, the corporate
authorities of the municipality may direct the municipal clerk or
treasurer, by a motion or resolution, to enter the bonds, or the other
written evidences of indebtedness on the records of the municipality as an
indebtedness against the waterworks or sewerage system only. The corporate
authorities shall have all the revenue derived from the operation of the
system, and all rents due and payable to the former owners for use of the
water and sewerage facilities, and pledged for the payment of the
indebtedness, set apart in a separate fund for the payment of the
indebtedness as it becomes due and payable, provided the system can be
operated and maintained from the current funds of the municipality
appropriated therefor.
Nothing contained in this Division 137 affects any lien or renders void
any bond, mortgage, or trust deed securing any indebtedness upon the
system, or any franchise under which the system is operated, or any
contract executed by any person as owner for the construction and
installation of the waterworks or sewerage system, or both, prior to the
transfer of the system to the municipality as provided in this Division
137. If the municipality neglects or fails to pay the indebtedness as it
falls due and if any mortgage or trust deed is foreclosed at the instance
of bona fide holders of unpaid bonds or other written evidences of
indebtedness, the mortgagee or trustee for those bona fide holders shall be
re-invested with all former rights which existed in their behalf by virtue
of the franchise and contract which were granted by the municipality, and
which were pledged.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-137-4) (from Ch. 24, par. 11-137-4)
Sec. 11-137-4.
Such municipalities may borrow money and levy and collect a
general tax, in the same manner as other municipal taxes may be levied and
collected, to procure funds to lease or purchase and maintain such a
waterworks or sewerage system, or both, and to pay any existing
indebtedness thereon. They may issue their bonds to procure funds to
purchase such a system or systems and to pay off the existing bonds or
indebtedness thereon, at the time of the purchase or at any time thereafter
that the financial condition of the municipality will permit.
Any bonds issued under this Section as limited bonds as defined in Section 3
of
the Local Government Debt Reform Act shall comply with the requirements of the
Bond Issue Notification Act.
If an appropriation has been made therefor, such a municipality may
constitute and make any bond which falls due during the current year, and
which is secured by a mortgage or trust deed on such a system or systems,
and which was issued by any person to procure funds to construct the system
or systems, a bond of the municipality for that year and levy and collect a
tax to pay the appropriation. However, this action shall not increase the
bonded indebtedness of the municipality in excess of the constitutional
limitation for the year for which this tax is to be levied and collected.
(Source: P.A. 89-655, eff. 1-1-97.)
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(65 ILCS 5/11-137-5) (from Ch. 24, par. 11-137-5)
Sec. 11-137-5.
A municipality may contract with any person for a supply of
water for public use for a period not exceeding 30 years.
A municipality so contracting may pay for the water so supplied by
general taxation, or out of the rents paid by consumers for the water
supplied to them, or out of any fund otherwise available for that purpose,
or by any combination of any of these means.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/Art. 11 Div. 138 heading) DIVISION 138.
LOCATING SOURCE OF WATER SUPPLY
OUTSIDE OF MUNICIPALITIES
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(65 ILCS 5/11-138-1) (from Ch. 24, par. 11-138-1)
Sec. 11-138-1.
Any water company organized under the laws of this state for
the purpose of supplying any municipality or the inhabitants thereof with
water, may locate its source of supply at, or change its source of supply
to, a point not more than 20 miles beyond the corporate limits of the
municipality. Such company may enter upon any land and take and damage
private property beyond those corporate limits, (1) for the construction,
maintenance, and operation of a line or lines of water-pipe to the source
of supply, (2) for the necessary pumping stations, reservoirs, and other
appurtenances, and (3) for the protection of all reservoirs, submerged
land, and source of supply from contamination, pollution, or damage from
any cause whatsoever.
Such a company may construct, maintain, and operate beyond those
corporate limits such a line or lines of water-pipe across or under any
railroad right-of-way, and in and under any public or private road,
highway, street, alley, or public ground, or across or under any of the
waters within this state, subject, however, to these conditions: (1) such a
line or lines of water-pipe shall not interfere with any railroad, or with
any sewer, gas pipes, water-pipes, or other conduit, already laid in or
under any public or private road, highway, street, alley, or public ground
by public authority; (2) such a company, in the construction and repair of
such a line or lines of water-pipe, shall restore any public or private
road, highway, street, alley, or public ground that is damaged to the same
condition as before, and shall not unnecessarily interfere with the public
use of the navigation of any of the specified waters; and (3) the laying of
the water-pipes and construction of the other works shall be done under
such reasonable regulations as the corporate authorities of any township or
municipality wherein that work is done may prescribe.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-138-2) (from Ch. 24, par. 11-138-2)
Sec. 11-138-2.
Whenever it is necessary for the construction, maintenance,
and operation of such a line or lines of water-pipe, pumping stations,
reservoirs, other appurtenances, or for the protection of reservoirs,
submerged land, and the source of supply from contamination, pollution, or
damage from any cause, to take or damage private property adjacent to these
improvements, that property may be taken or damaged, and the compensation
therefor may be ascertained and paid in the manner which may be then
provided by law for the exercise of the right of eminent domain.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-138-3) (from Ch. 24, par. 11-138-3)
Sec. 11-138-3.
Any person who unlawfully and intentionally molests or
destroys any part of such a line of water-pipe, pumping station, reservoir,
or other appurtenance, or the material or property belonging to a specified
water company, or who in any manner interferes with the construction,
maintenance, or operation of the property specified in this section is
guilty of a petty offense. But a prosecution under the provisions of this
section shall not in any manner prevent a recovery by the company entitled
thereto, of the amount of damages done to its property.
(Source: P.A. 77-2830.)
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(65 ILCS 5/Art. 11 Div. 139 heading) DIVISION 139.
COMBINED WATERWORKS AND
SEWERAGE SYSTEMS
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(65 ILCS 5/11-139-1) (from Ch. 24, par. 11-139-1)
Sec. 11-139-1.
When used in this Division 139, "waterworks" means and
includes a waterworks system in its entirety or any integral part thereof,
including mains, hydrants, meters, values, standpipes, storage tanks, pump
tanks, intakes, wells, impounding reservoirs, pumps, machinery,
purification plants, softening apparatus, and all other elements, useful in
connection with a water supply or water distribution system.
"Sewerage system" means and includes any or all of the following: a
sewerage treatment plant or plants, collecting, intercepting and outlet
sewers, lateral sewers, and drains, including combined and separate storm
water and sanitary drains, force mains, conduits, pumping stations, ejector
stations and all other appurtenances, extensions and improvements
necessary, useful, or convenient for the collection, treatment, and
disposal in a sanitary manner of sewage and industrial wastes.
"Combined waterworks and sewerage system" means and includes a
waterworks and sewerage system, which the municipality determines by
ordinance to operate in combination.
(Source: Laws 1963, p. 2433.)
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(65 ILCS 5/11-139-2) (from Ch. 24, par. 11-139-2)
Sec. 11-139-2.
Any municipality may acquire, or construct, and maintain and
operate a combined waterworks and sewerage system either within or without
the corporate limits thereof. A municipality owning and operating a
waterworks or sewerage system may provide for the inclusion of that
waterworks or sewerage system or the combination of the 2 in a combined
waterworks and sewerage system under this Division 139, and in connection
therewith may provide for paying or refunding any unpaid obligations which
are payable solely from the revenue of or which are secured by a mortgage
of that waterworks or sewerage system, or any part thereof included in the
combined waterworks and sewerage system. Any municipality owning and
operating a combined waterworks and sewerage system may also provide for
paying or refunding any unpaid obligations which are payable solely from
the revenue of the combined waterworks and sewerage system. A municipality
owning, acquiring, or constructing and providing for the operation of a
combined waterworks and sewerage system may improve and extend that system,
and may impose and collect charges or rates for the use of that system as
provided in this Division 139. A municipality may also, when determined by
its corporate authorities to be in the public interest and necessary for
the protection of the public health or in the best interests of the
municipality and its environs, enter into and perform contracts, whether
long-term or short-term, with any other municipality within a radius of 25
miles of its corporate limits and construct water mains to such
municipality and supply water to such municipalities on the request of any
such municipality; provided, that such water mains be constructed and that
such municipality purchase water on a long term basis at rates sufficient
to amortize the cost of the construction of such water mains and pay the
cost of maintenance and operation thereof, as hereinafter provided in this
Division 139, and also with any industrial establishment for the provision
and operation by the municipality of sewerage facilities, either within or
without the corporate limits of such municipality, to abate or reduce the
pollution of waters caused by discharges of industrial wastes by the
industrial establishment and the payment periodically by such municipality
or municipalities or the industrial establishment to the municipality of
amounts at least sufficient, in the determination of such corporate
authorities, to compensate the municipality for the cost of providing
(including payment of principal and interest charges, if any) and of
operating and maintaining any such facilities. This amendatory Act is not a
prohibition upon the contractual and associational powers granted by
Article VII, Section 10 of the Constitution.
(Source: P.A. 77-2837.)
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(65 ILCS 5/11-139-3) (from Ch. 24, par. 11-139-3)
Sec. 11-139-3.
For the purpose of defraying the cost of acquiring, constructing,
extending, or improving a combined waterworks and sewerage system or any
part thereof, any municipality (1) may apply money received therefor from
the federal government or available therefor from any source, and (2) may
issue and sell revenue bonds of the municipality payable solely from
revenue derived from the operation of the combined waterworks and sewerage
system. These bonds may be issued in such amounts as may be necessary to
provide sufficient funds to pay all the costs of the acquisition,
construction, extension, or improvement of the combined waterworks and
sewerage system as authorized by Section 11-139-2, including engineering,
legal, and other expenses, together with interest to the estimated date of
completion of the combined waterworks and sewerage system or of the project
to be constructed. The bonds shall bear interest at a rate not to exceed
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 mature
within the period of usefulness of the project involved, to be determined
by the corporate authorities and in any event not more than 40 years. The
bonds shall be sold in such manner as the corporate authorities shall
determine and if issued to bear interest at the maximum rate authorized by
the Bond Authorization Act, as amended at the time of the making of the
contract, shall be sold for not less than par and accrued interest. If any
of these bonds are issued to bear interest at a rate of less than the
maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, the minimum price at which they may be
sold shall be such that the interest cost to the municipality of the
proceeds of the bonds shall not exceed the maximum rate authorized by the
Bond Authorization Act, as amended at the time of the making of the contract,
computed to maturity. In case any officer whose signature appears on the
bonds or coupons attached thereto ceases to hold that office before the
delivery of the bonds to the purchaser, the signature nevertheless shall be
valid and sufficient for all purposes, with the same effect as if he had
remained in office until the delivery of the bonds. The bonds shall have
all the qualities of negotiable instruments under the law of this state.
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.
This amendatory Act of 1971 is not a limit upon any municipality which
is a home rule unit.
This amendatory Act of 1972 is not a limit upon any municipality which
is a home rule unit.
(Source: P.A. 86-4.)
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(65 ILCS 5/11-139-4) (from Ch. 24, par. 11-139-4)
Sec. 11-139-4.
Whenever an existing waterworks or sewerage system is
included in a combined waterworks and sewerage system under this Division
139 and there are unpaid obligations previously issued, which are payable
solely from the revenue or secured by a mortgage of the waterworks or
sewerage system, or any part thereof, or whenever there are unpaid
obligations previously issued which are payable solely from the revenue of
the combined waterworks and sewerage system, the unpaid obligations may be
refunded by the issue and exchange therefor of revenue bonds, to be issued
under this Division 139, with the consent of the respective holders of the
unpaid obligations. The holders of revenue bonds issued under this Division
139, whether (1) for refunding or (2) for acquisition, construction,
extension, or improvement, or both, have the same rights and privileges
with respect to payment and there is no distinction between revenue bonds
issued for the 2 purposes unless it is specifically provided in the
ordinance authorizing the issuance of bonds that the bonds, or such ones
thereof as may be specified, issued for such acquisition, construction,
extension or improvement, shall, to the extent and in the manner
prescribed, be subordinated and be junior in standing, with respect to the
payment of principal and interest and the security thereof, to such other
bonds payable from the revenue of the combined waterworks and sewerage
system as are specified in such ordinance. Whenever any unpaid obligations
previously issued which are payable solely from the revenue or secured by a
mortgage of any waterworks or sewerage system included in a combined
waterworks and sewerage system or any combined waterworks and sewerage
system under this Division 139 are refunded, the unpaid obligations shall
be surrendered and exchanged for revenue bonds of the combined waterworks
and sewerage system of a total principal amount which shall not be more but
may be less than the principal amount of the obligations exchanged and the
interest thereon to the date of exchange.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-139-5) (from Ch. 24, par. 11-139-5)
Sec. 11-139-5.
The corporate authorities of any municipality availing
itself of the provisions of this Division 139 shall adopt an ordinance
describing in a general way the contemplated project. If it is intended to
include in the combined waterworks and sewerage system any existing
waterworks or any existing sewerage system, the ordinance shall provide for
its inclusion in the combined system and shall describe in a general way
the existing waterworks or sewerage system to be included in the combined
waterworks and sewerage system. If it is intended to acquire or construct a
combined waterworks and sewerage system, or to extend and improve such a
system, the ordinance shall describe in a general way the system to be
acquired or constructed or the extension or improvement to be made or any
project authorized by Section 11-139-2. It shall not be necessary that the
ordinance refer to plans and specifications nor that there be on file for
public inspection prior to the adoption of such ordinance detailed plans
and specifications of the project. The ordinance shall set out the
estimated cost of the contemplated project, and if any existing waterworks
or sewerage system is included in the project, the ordinance shall state
the means provided for defraying or refunding any unpaid obligation,
payable solely from the revenue or secured by a mortgage of the waterworks
or sewerage system, and if any unpaid obligations payable from the revenue
of the combined waterworks and sewerage system are outstanding and unpaid
the ordinance shall state the means providing for defraying or refunding
any unpaid obligation so payable from the revenue of the combined
waterworks and sewerage system. The ordinance shall determine the period of
usefulness of the contemplated project. The ordinance shall also prescribe
the method of defraying the cost of the contemplated project and fix the
amount of revenue bonds proposed to be issued, the interest rate, and all
other details in connection with the bonds deemed advisable. The ordinance
may contain such covenants and restrictions upon the issuance thereafter of
additional revenue bonds as may be deemed necessary or advisable for the
assurance of the payment of bonds thereby authorized and as may be
thereafter issued.
(Source: P.A. 77-2837.)
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(65 ILCS 5/11-139-6) (from Ch. 24, par. 11-139-6)
Sec. 11-139-6.
Within 10 days after the ordinance for any project
under this Division 139 has been passed, it shall be published at least
once 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. The publication or posting of the ordinance shall be accompanied
by a notice of (1) the specific number of voters required to sign a petition
requesting the question of the adoption of the ordinance be submitted to
the electors of the municipality; (2) the time in which such petition must
be filed; and (3) the date of the prospective referendum. The municipal
clerk shall provide a petition form to any individual requesting one. If
no petition is filed with the municipal clerk, as
provided in this section, within 30 days after the publication or
posting of the ordinance, it shall be in effect. But if within this 30
day period a petition is filed with the municipal clerk signed by
electors of the municipality numbering 10% or more of the number of
registered voters in the municipality, asking that the question of acquiring,
constructing, extending, or improving the combined waterworks and
sewerage system, as provided in the ordinance, and the issuance of
revenue bonds therefor be submitted to the electors of the municipality,
the municipal clerk shall certify such question for submission at an election
in accordance with the general election law. If a majority of the votes
cast on the question are in favor thereof, the ordinance shall be in effect.
But if a majority of the votes cast on the question are unfavorable, the
municipality shall proceed no further and the ordinance shall not take effect.
(Source: P.A. 87-767.)
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(65 ILCS 5/11-139-7) (from Ch. 24, par. 11-139-7)
Sec. 11-139-7.
Revenue bonds issued under this Division 139 shall be
payable solely from the revenue derived from the operation of the combined
waterworks and sewerage system on account of which the bonds are
issued; provided, that bonds issued under this Division 139 may also be
payable from funds pledged by the municipality issuing such bonds pursuant
to the Illinois Finance Authority
Act.
Notwithstanding any such pledge or any other matter,
these bonds shall not in any event constitute an indebtedness of the
municipality within the meaning of any constitutional or statutory
limitation and it shall be so stated on the face of each bond.
(Source: P.A. 93-205, eff. 1-1-04.)
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(65 ILCS 5/11-139-8) (from Ch. 24, par. 11-139-8)
Sec. 11-139-8.
The corporate authorities of any municipality availing
itself of this Division 139 may (1) make, enact, and enforce all needful
rules and regulations for the acquisition, construction, extension,
improvement, management, and maintenance of the combined waterworks and
sewerage system of the municipality and for the use thereof, (2) make,
enact, and enforce all needful rules, regulations, and ordinances for the
care and protection of such a system, which may be conducive to the
preservation of the public health, comfort, and convenience and to
rendering the water supply of the municipality pure and the sewerage
harmless insofar as it is reasonably possible to do so, and (3) charge the
inhabitants thereof a reasonable compensation for the use and service of
the combined waterworks and sewerage system and to establish rates for that
purpose. Separate rates may be fixed for the water and sewer services
respectively or single rates may be fixed for the combined water and sewer
services. Separate rates may be fixed for any water services to any other
municipality and separate sewer rates to any industrial establishment for
the purposes set forth in Section 11-139-2. These rates, whether separate
or combined, shall be sufficient at all times to (1) pay the cost of
operation and maintenance of the combined waterworks and sewerage system,
(2) provide an adequate depreciation fund, and (3) pay the principal of and
interest upon all revenue bonds issued under this Division. Rates shall be
established, revised, and maintained by ordinance and become payable as the
corporate authorities may determine by ordinance.
Whenever a municipality shall issue revenue bonds as provided by this
Division to pay the cost of the extension or improvement of its combined
waterworks and sewerage system or any part thereof to serve a particular
area of the municipality, the municipality may vary its rates to be charged
for the water and sewer services of the system or for either of them
effective upon the issuance of bonds as provided by this division to pay
the cost of the extension or improvement of its combined waterworks or
sewerage system or any part thereof to serve a particular area of a
municipality so that the rates to be charged for services in the particular
area to be served by such extension or improvement shall be calculated to
produce, in addition to the revenues generally to be produced by such
rates, sufficient funds to pay the principal of and interest upon the
revenue bonds issued to pay the cost of such extension or improvement for
that particular area.
Such charges or rates are liens upon the real estate upon or for which
service is supplied whenever the charges or rates become delinquent as
provided by the ordinance of the municipality fixing a delinquency date;
except the charges or rates established by contract for the supply of water
to another municipality. A lien is created under the preceding sentence only if
the municipality sends to the owner or owners of record of the real estate, as
referenced by the taxpayer's identification number, (i) a copy of each
delinquency notice sent to the person who is delinquent in paying the charges
or rates or other notice sufficient to inform the owner or owners of record, as
referenced by the taxpayer's identification number, that the charges or rates
have become delinquent and (ii) a notice that unpaid charges or rates may
create a lien on the real estate under this Section. However, the municipality
has no preference over the rights of any purchaser, mortgagee, judgment
creditor, or other lien holder arising prior to the filing of the notice of
such a lien in the office of the recorder of the county in which such real
estate is located, or in the office of the registrar of titles of such county
if the property affected is registered under "An Act concerning land titles",
approved May 1, 1897, as amended. This notice shall consist of a sworn
statement setting out (1) a description of such real
estate sufficient for the identification thereof, (2) the amount of money
due for such service, and (3) the date when such amount became delinquent.
The municipality shall send a copy of the notice of the lien to the owner or owners of
record of the real estate, as referenced by the taxpayer's identification
number. The municipality has the power to foreclose this lien in the same
manner and with the same effect as in the foreclosure of mortgages on real
estate.
The municipality also has the power, from time to time, to sue the
occupant or user of the real estate in a civil action to recover the money
due for services rendered, plus a reasonable attorney's fee, to be fixed by
the court. Whenever a judgment is entered in such a civil action the
foregoing provisions in this section with respect to filing sworn
statements of such delinquencies in the office of the recorder and
creating a lien against the real estate shall not be effective thereafter
as to charges sued upon and no lien shall exist thereafter against the real
estate for the delinquency. Judgment in such a civil action operates as a
release and waiver of the lien for the amount of the judgment.
(Source: P.A. 87-1197.)
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(65 ILCS 5/11-139-9) (from Ch. 24, par. 11-139-9)
Sec. 11-139-9.
Whenever revenue bonds are issued under this Division 139,
sufficient revenue derived from the operation of such a combined waterworks
and sewerage system shall be deposited in a separate fund, designated as
the waterworks and sewerage fund of the municipality. It shall be used only
(1) to pay the cost of maintenance and operation of the combined system,
(2) to provide an adequate depreciation fund, and (3) to pay the principal
of and interest upon the revenue bonds of the municipality issued under
this Division 139.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/11-139-10) (from Ch. 24, par. 11-139-10)
Sec. 11-139-10.
Any municipality operating a combined waterworks and
sewerage system under this Division 139, shall set up and maintain a proper
system of accounts showing the amount of revenue received from the combined
waterworks and sewerage system and the application of this revenue. At
least once each year the municipality shall have these accounts properly
audited, and a report of this audit shall be open to the public for
inspection at all reasonable times.
(Source: Laws 1961, p. 576.)
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