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Synopsis As Introduced Amends the Water Authorities Act. Provides that a water authority may be dissolved upon referendum of the electors of the water authority. Provides that the business affairs of the water authority shall be closed after approval of a referendum dissolving the water authority and for the disposition of property following dissolution. Further provides that any money remaining shall be paid to the school treasurer of the school district or districts in which the water authority was situated. Effective immediately.
House Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes: excludes the City of Chicago; changes the number of electors required to file a petition to dissolve a water authority from 100 to 500; provides that where an authority has entered into a multiyear lease on real property assets, the court may order that real property transferred to a unit of local government operating the real property, and may order that the transfer be made without compensation in specified circumstances; changes from 2 years to 4 years how often a petition may be filed to dissolve a water district; provides that bonds issued or contracts entered into by an authority shall be fulfilled or repaid as required under the terms of the bonds or contracts (rather than just discharged); and that any money remaining after the dissolution of a water authority shall be transferred to the county (rather than the school treasurer of a school district or districts).
House Floor Amendment No. 2 Provides that moneys remaining after the business affairs of the authority have closed up shall be paid proportionately to the township or townships in which the water authority is situated or to the county or counties in the case of any area of the authority that is located outside of a township.
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