Illinois Statutes

§ 9-1b

Illinois·Topic GOVERNMENT·Ch. 70 SPECIAL DISTRICTS·Act 70 ILCS 1205/ Park District Code.·Art. Article 9 - Powers (Continued) Swimming Pools--Airport Grants--Airports
Bonds issued under Section 9-1 hereof shall be payable solely from the revenue derived from the operation of the swimming pool, or the artificial ice skating rink, and shall not in any event constitute an indebtedness of the park district 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 Sections 9-1 to 9-1f hereof, inclusive, and that it does not constitute an indebtedness of the park district within any constitutional or statutory limitation. The bonds shall be sold in such manner and upon such terms as the board shall determine. The minimum price at which they may be sold shall be such that the interest cost to the park district of the proceeds of the bonds shall not exceed the maximu

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Legislative History

(Source: P.A. 86-4.)

Nearby Sections

15
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