Illinois General Assembly - Illinois Compiled Statutes

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315 ILCS 30/31

(315 ILCS 30/31) (from Ch. 67 1/2, par. 91.131)

Sec. 31.

When a Department of Urban Renewal has been established
hereunder the presiding officer of the municipality shall so notify the
Department of Commerce and Economic Opportunity
						
and the land clearance
commission
in its area of operation by transmitting to the Department of
Commerce and Economic Opportunity and such land
clearance commission a certified copy
of the ordinance of the governing body providing for the creation of
such Department.

From and after the receipt of such notice such land clearance
commission shall undertake no new development or redevelopment projects;
however, such land clearance commission shall, pending its dissolution
as hereinafter provided, have and continue to exercise all powers vested
in land clearance commissions by the "Blighted Areas Redevelopment Act
of 1947," approved July 2, 1947, as amended, with respect to: (1)
projects then in progress pending determination, as hereinafter
provided, by the governing body of the municipality as to which, if any,
of the redevelopment projects then in progress are to be completed by
such land clearance commission, and (2) projects which the governing
body of the municipality determines shall be completed by such land
clearance commission.

Such land clearance commission shall promptly prepare a detailed
report covering its operations and activities and the status of all of
its pending development or redevelopment projects, together with all
other pertinent data and information as may be requested by the
Department.  The Department shall cause an audit to be made of the
financial affairs and obligations of such land clearance commission.
Copies of such report and audit shall be furnished the presiding officer
of the municipality, the department, the governing body of the
municipality, the Department of Commerce and Economic Opportunity and such land
clearance commission.

Upon receipt of such audit and report the Department of Urban
Renewal, with the approval of the governing body of the municipality,
shall determine with respect to any redevelopment project then in
progress whether such project shall be completed by such land clearance
commission or by the Department of Urban Renewal, and shall so notify
such land clearance commission and the Department of Commerce and
Economic Opportunity.

Such land clearance commission shall, upon receipt of the
determinations of the Department of Urban Renewal with respect to
redevelopment projects then in progress, proceed with the orderly
dissolution of such land clearance commission.  When provision has been
made for the refunding or payment of outstanding bonds of such land
clearance commission the Commissioners of such land clearance commission
shall promptly take appropriate action to convey, transfer, assign,
deliver and pay over to the municipality for the purposes under Part I
of this Act, all cash, real property, securities, contracts, records,
and assets of any kind or nature which will not be needed for the
completion by the land clearance commission of any redevelopment project
which the department may have determined should be completed by such
land clearance commission and which will not be required for the orderly
dissolution of such land clearance commission.  All assets so conveyed,
assigned, transferred and paid over to the municipality shall be subject
to the same rights, liabilities and obligations as existed prior to the
transfer to the municipality.

When all of the cash, real property, securities, contracts, assets,
records and functions of a land clearance commission have been so
conveyed, transferred, assigned, delivered and paid over to the
municipality and provisions have been made for the refunding or payment
of outstanding bonds of such land clearance commission, and when such
land clearance commission has completed all projects which the
Department, as aforesaid, may have determined should be completed by
such land clearance commission, it shall so notify the Department of
Commerce and Economic Opportunity. When the
Department of Commerce and Economic Opportunity is
satisfied that a proper accounting has been made and that no
contingent liabilities exist, the Department of Commerce and
Economic Opportunity
						
shall issue a certificate of dissolution which it shall file in the
office in which deeds of property in the area of operation are recorded,
and upon such filing, such land clearance commission shall be dissolved
and cease to exist.

(Source: P.A. 94-793, eff. 5-19-06.)