Herrin to merge waterworks and sewerage system bonds
The city council of Herrin Illinois adopts an ordinance to combine the waterworks and sewerage systems and issue Waterworks and Sewerage Improvements and Refunding Revenue Bonds totaling 957 000 dollars. The plan includes 635 000 dollar improvements and 322 000 dollar refunding of existing bonds, payable from system revenues over 40 years with semiannual interest.
MENTIONED IN THIS ARTICLE
Herrin
Williamson County
Illinois
City of
Herrin Illinois Waterworks and Sewerage Refunding Bonds Issued
The City of Herrin Illinois authorizes bonds totaling 957000 to refund outstanding waterworks and sewerage revenue bonds. They bear 4% and 3.75% interest with call provisions and a 42.50 premium. Bonds mature December 1950s to 1970s, payable from system revenues.
MENTIONED IN THIS ARTICLE
Ciy
Chicago
Ilinois
Herrin Waterworks and Sewerage Bond Ordinance Details
The document outlines the creation of a Waterworks and Sewerage Fund in Herrin Illinois to pay operating costs depreciation and bond interest from system revenues. It commits the city to operate the system, fix rates, and maintain reserve and depreciation funds, with bonds secured by system revenues and pledged full faith. It sets bond registration, interest payments, and fiscal year synchronization, with monthly deposits into dedicated accounts starting July 1 1955 and strict separation of funds.
MENTIONED IN THIS ARTICLE
State of
Illinois
United States of America
First National Bank of Chicago
City of
Chicago
State of Illinois
Herrin
Williamson County
Also Mentioned on This Page
Eet Bex City Council
Williamson
Hearin
Cities and Villages
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