(70 ILCS 405/30) (from Ch. 5, par. 135)
Sec. 30.
Winding up district affairs.
Upon receipt from the Department of a certification that the Department
has determined that the continued operation of the district is not
administratively practicable and feasible, the directors shall forthwith
proceed to terminate the affairs of the district. The directors shall
dispose of all property belonging to the district at public auction and,
after settlement of all legal obligations against the district, shall pay
over the proceeds of such sale into the State treasury. The directors shall
thereupon file an application, duly verified, with the Secretary of State
for the discontinuance of such district, and shall transmit with such
application the certificate of the Department setting forth the
determination of the Department that the continued operation of such
district is not administratively practicable and feasible and that all
debts of the district have been paid. The application shall recite that the
property of the district has been disposed of and the proceeds paid over as
in this section provided, and shall set forth a full accounting of such
properties and proceeds of the sale. The Secretary of State shall issue to
the directors a certificate of dissolution and shall record such
certificate in an appropriate book of record in his office. A copy of such
certificate of dissolution issued by the Secretary of State shall be
recorded with the recorder of the county in which the office of
such district is located.
Upon issuance of a certificate of dissolution under the provisions of
this section, all ordinances and regulations theretofore adopted and in
force within such districts shall be of no further force and effect. All
contracts theretofore entered into, to which the district is a party, shall
remain in force and effect for the period provided in such contracts. The
Department shall be substituted for the district as party to such
contracts. The Department shall be entitled to all benefits and subject to
all liabilities under such contracts and shall have the same right and
liability to perform, to require performance, to sue and be sued thereon,
and to modify or terminate such contracts by mutual consent or otherwise,
as the directors of the district would have had. Such dissolution shall not
affect the lien of any judgment entered under the provisions of Section 25
of this Act, nor the pendency of any action instituted under the
provisions of such section, and the Department shall succeed to all the
rights and obligations of the district as to such liens and actions.
The Department shall not be required to entertain petitions for the
discontinuance of any district nor conduct referenda upon such petitions
nor make determinations pursuant to such petitions in accordance with the
provisions of this Act, more often than once in 3 years.
(Source: P.A. 83-358.)
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