(55 ILCS 5/5-15020) (from Ch. 34, par. 5-15020)
Sec. 5-15020.
Rates and charges; rights of bondholders.
Rates
and charges for the use and service of the waterworks
properties, or sewage facilities, or waste management facilities, as the
case may be, acquired by any county 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 this Division,
to provide a reasonable depreciation fund as established pursuant to the
provisions of the ordinance authorizing the issuance of any revenue bonds,
and to maintain such other reserves and sinking funds as may be deemed
necessary or desirable by the county for the payment of the bonds or the
extension or improvement of the waterworks properties or, sewage
facilities, or a combination thereof, or waste management facilities, as
the case may be, and the holder of any bond or bonds or any of the interest
coupon or coupons of any revenue bonds of any such county may in any civil
action, mandamus, injunction or other proceeding enforce and compel the
performance of all duties required by this Division 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, or sewage facilities, or a combination thereof, or
waste management facilities, as the case may be, and the proper application
of the income and revenue therefrom.
(Source: P.A. 86-962.)
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