(70 ILCS 2605/7c) (from Ch. 42, par. 326c)
Sec. 7c.
The Sanitary District, in addition to the other powers vested in
it, is empowered to pledge, as collateral security for the payment of
principal and interest of any securities heretofore or hereafter sold to
the United States of America, or any instrumentality thereof, under an act
of Congress entitled, "An Act to encourage national industrial recovery, to
foster fair competition, and to provide for the construction of certain
useful public works, and for other purposes," any judgment heretofore or
hereafter rendered by any court in favor of said sanitary district, all
open accounts, bills receivable, and the proceeds thereof, now or hereafter
existing in favor of such sanitary district, and revenue derived from the
sale of electrical energy by said sanitary district, upon such terms as may
be mutually agreed upon between the said sanitary district and the
purchaser of said securities, or as may be provided by contract previously
entered into between said sanitary district and such purchaser.
(Source: Laws 1933-34, 3rd S.S., p. 196.)
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