(55 ILCS 5/1-3007) (from Ch. 34, par. 1-3007)
Sec. 1-3007.
Adjustment of property and debts.
All the property, both
real and personal, and all debts, liabilities and choses in action of every
kind, belonging to the county or counties from which such new county was
formed, shall be divided by the several county boards of the counties
interested, between the county or counties from which such new county is
formed and the new county, in proportion to the assessed value of property
for the last preceding year which has been taken from such original county
or counties and carried to such new county; and if such boards cannot agree
upon such division, they may refer the matter of difference to arbitrators,
or the rights to such property may be settled by a civil action filed by
either party for that purpose. In case the property cannot be divided or
removed, the county receiving the same shall pay to the other a
proportionate value for the same.
(Source: P.A. 86-962.)
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