Illinois General Assembly - Illinois Compiled Statutes

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70 ILCS 2805/35

(70 ILCS 2805/35) (from Ch. 42, par. 446)

Sec. 35.

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.

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 school treasurer of the
school district in which the sanitary district was situated, not including
high school districts; except that after the business affairs of the Lakes Region Sanitary District have been closed up and all the debts and obligations of the Lakes Region Sanitary District have been paid after dissolution under Section 33.1, all money remaining shall be paid to Lake County. When the district was situated in two or more such
school districts the money shall be divided between the districts, each
district to receive an amount based on the ratio of assessed valuation of
real estate of the district which was situated in the sanitary district to
the assessed valuation of the real estate of all school districts which
were situated in the sanitary district.

(Source: P.A. 100-874, eff. 1-1-19.)