Forest Park to issue $1 million water revenue bonds
The Village of Forest Park Cook County Illinois ordinates debt to finance waterworks improvements including two 500000 gallon elevated tanks booster mains and a new pumping station. The bonds will be paid from revenues of the water system with a 40 year useful life and optional redemption after May 1 1982. The ordinance creates a Water Fund with dedicated accounts for operation maintenance bond depreciation reserve surplus and requires rates to cover all costs.