(70 ILCS 1930/85)
Sec. 85. Existing contracts, obligations, and liabilities. No contract,
obligation, or liability whatever of the railroads to pay any money into the
State treasury, nor any lien of the State upon or right to tax property of
the railroads, shall be released, suspended, modified, altered, remitted, or
in
any manner diminished or impaired by the contract with the Authority, and any
such charter provisions applicable to the property on which the railroads are
now located shall be deemed in full force and effect with respect to any
property on which the railroads are relocated in substitution therefor pursuant
to the provisions of this Act or any such contract with the Authority pursuant
thereto. Notwithstanding, upon order of the Illinois Commerce Commission, the
Authority shall succeed to and assume the performance and actions of the
represented persons under the terms of the order and amending orders previously
entered relative to projects undertaken by the Authority and
consistent with the objectives of the Authority.
(Source: P.A. 95-122, eff. 8-13-07.) |