Illinois General Assembly - Illinois Compiled Statutes

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70 ILCS 2005/14

(70 ILCS 2005/14) (from Ch. 85, par. 6864)

Sec. 14.

A district organized under
this Act may be dissolved and discontinued upon like petition, hearing and
election as is provided in this Act for the organization of a district.
If a majority of the votes cast on the question at the election are in
favor of dissolution, the court shall enter an order of record in
the court dissolving the district. The trustees of the
district shall immediately proceed to wind up the affairs of the district
and shall have the same powers as before dissolution to levy taxes for the
purpose of paying the debts, obligations and liabilities of the
district outstanding on the date of dissolution and the
necessary expenses of closing up the affairs of the district. All property
of the district shall be sold and, in case any excess remains after all
liabilities of the district are paid, the excess shall be paid to the
various common school districts located in the district
ratably in the proportion that the taxable value of all the property in
each of the school districts bears to the taxable value of all the property
in the emergency services district.

(Source: P.A. 103-134, eff. 1-1-24.)