Illinois Compiled Statutes 60 ILCS 1/205-145 – Special fund
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Terms Used In Illinois Compiled Statutes 60 ILCS 1/205-145
- Combined waterworks and sewerage system: means and includes a waterworks and sewerage system, as defined in this Section, that a township determines to operate in combination. See Illinois Compiled Statutes 60 ILCS 1/205-5
- Sewerage system: means and includes any one or more of the following: 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. See Illinois Compiled Statutes 60 ILCS 1/205-5
- System: means a waterworks system, a sewerage system, or any separate integral part of a waterworks system or a sewerage system, or a waterworks system and sewerage system in combination as authorized and provided in Section 205-10. See Illinois Compiled Statutes 60 ILCS 1/205-5
- Waterworks system: means and includes a waterworks system in its entirety, or any integral part of a waterworks system, including mains, hydrants, meters, valves, standpipes, storage tanks, pumps, tanks, intakes, wells, impounding reservoirs, machinery, purification plants, softening apparatus, and all other elements useful in connection with a water supply or water distribution system. See Illinois Compiled Statutes 60 ILCS 1/205-5
All revenue derived from the operation of a waterworks system or sewerage system, or combined waterworks and sewerage system, constructed, acquired, extended, or improved to serve a particular locality shall be set aside as collected and shall be deposited in a special fund of the township. That fund shall be used only (i) to pay the cost of operating and maintaining the waterworks system or sewerage system, or combined waterworks and sewerage system, constructed, acquired, extended, or improved to serve a particular locality, (ii) to provide an adequate depreciation fund, and (iii) to pay the principal and interest on the bonds issued by the township under Sections 205-130 through 205-141 for the purpose of constructing, acquiring, extending, or improving the system.