CHICAGO (CBS) – The Chicago Park District is issuing $150 million in bonds to spiffy up its harbors.

The Park District is issuing the bonds to raise money for improvements to its nine existing harbors. The improvements will include boat slips, boat storage facilities, and floating restrooms, the Chicago Tribune reported.

Two new harbors will also be constructed – the Gateway Harbor south of Navy Pier, and the 31st Street Harbor.

The Gateway Harbor, located a short distance from the existing DuSable Harbor, will have 248 slips to accommodate boats from 35 to 200 feet long. It will include boater restrooms with showers and laundry facilities, upscale picnic and pier accommodations, and upgraded security.

The 31st Street Harbor will include 1,000 slips for boats ranging from 35 to 70 feet long, heated winter boat storage in an underground garage, and outdoor storage for 200 additional boats.

Both harbors are set to open in May 2012.

The Park District says it will not raise taxes to pay back the bonds, but will rather use revenues from boat owners to pay for the improvements.

The nine existing harbors are Montrose Harbor, Belmont Harbor, Diversey Harbor, DuSable Harbor at Randolph Street, Monroe Harbor, Burnham Harbor adjacent to Northerly Island, 59th Street Harbor, and Jackson Inner and Outer harbors in Jackson Park.

Watch & Listen LIVE