(70 ILCS 2405/29)
(from Ch. 42, par. 317k)
The dissolution of any sanitary district shall not affect
the obligation of any bonds issued or contracts entered into by such
district, nor invalidate the levy, extension or collection of any taxes or
special assessments upon the property in the debtor district, but all such
bonds and contracts shall be discharged.
The general obligation indebtedness of the dissolved district shall be
paid from the proceeds of continuing taxes and special assessments as
provided in this Act.
All money remaining after the business affairs of the sanitary district
have been closed up and all the debts and obligations of the sanitary
district have been paid, shall be paid to the successor municipality in
accordance with the intergovernmental agreement between the sanitary
district and the municipality.
(Source: P.A. 85-986.)