Repayment from water system funds - Water rates.
Municipal Code of Chicago § 2-32-800
in effect2-32-800 Repayment from water system funds - Water rates.
Whenever water revenue bonds are issued pursuant to the provisions of this ordinance, the entire revenue received from the operation of the Chicago Water System shall be deposited in a separate fund designated as the "Water Fund of the Municipality of Chicago". This fund shall be used only in paying (1) the cost of maintenance and operation of the Chicago Water System; (2) obligations of the City of Chicago heretofore issued that are payable by their terms from the revenues of the system, whether such obligations were heretofore issued in the form of certificates, bonds or otherwise; (3) Water revenue bonds issued pursuant to the provisions of this Code; and (4) establishing and maintaining all reserve funds or accounts as may be covenanted for in the bond ordinances adopted authorizing such water revenue bonds. Provided, however, that any funds available after or not necessary for satisfying the above requirements may be used for any lawful purpose of the Chicago Water System.
Rates charged by the city for water used shall be sufficient to pay the cost of maintenance and operation of the Chicago Water System and to pay promptly when due the principal of and interest upon all the obligations of the city heretofore issued that are payable by their terms only from such revenues of the water system and the payment of water revenue bonds issued pursuant to the provisions of the water revenue bond sections of this chapter, and to establish and maintain all reserve funds or accounts as may be covenanted for in bond ordinances adopted and authorizing the issuance of such water revenue bonds. These rates charged shall not be reduced while any of such certificates or bonds or obligations are unpaid.
(Prior code § 7-70)
Source: City of Chicago, Municipal Code of Chicago (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/chicago/latest/chicago_il/0-0-0-2598333Fetched: 10/24/2026