(105 ILCS 5/1E-155)
(This Section scheduled to be repealed in accordance with 105 ILCS 5/1E-165)
Abolition of Authority.
The Authority shall be
abolished 10 years after its creation or one year after all its
obligations issued under the provisions of this Article have been fully paid
and discharged, whichever comes later. However, the State Board, upon
recommendation of the Authority
and if no obligations are outstanding, may abolish the Authority at any time
after the Authority has been in existence for 3 years. Upon the
abolition of the Authority, all of its
records shall be transferred to the State Board and any property of the
shall pass to and be vested in the State Board.
(Source: P.A. 92-547, eff. 6-13-02