70 ILCS 3705/35

(70 ILCS 3705/35) (from Ch. 111 2/3, par. 212.10)

Sec. 35.

Any public water district created under this Act which does
not have outstanding and unpaid any revenue bonds issued under this Act
may be dissolved any time after a date which is 4 years after the date
of its creation as follows:

Any 100 electors residing within the area of the district may
petition the circuit court to order submitted to referendum
the question whether the district
should be dissolved.  Upon the filing of the petition, and the determination
that it is in accordance with the general election law, the circuit court
shall: (1) designate the election at which this question is to be submitted;
(2) order notice of the referendum in the manner
provided by the general election law; and certify the proposition to the
proper election officials for submission in accordance with the general election law.

The proposition shall be in substantially
the following form:

--------------------------------------------------------------
    "Shall the                         YES
public water district            -----------------------------
be dissolved?"                         NO
--------------------------------------------------------------

If a majority of the
votes cast on this question are in favor of dissolution of the district
under this Section, then such organization shall cease, the public water
district is dissolved, and the circuit court shall direct the
discharge of
all outstanding obligations.

If the vote is in favor of dissolution of the public water district
under this Section, there shall be no further appointments for trustees.
The officers acting at the time of this vote shall close up the business
affairs of the district, and make the necessary conveyances of the title
to the district property.

If the vote is against dissolution of the public water district, no
petition for a referendum under this Section may be filed within 2 years
of the previous referendum.

The dissolution of any public water district under this Section does
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 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 district have
been closed up and all the debts and obligations of the district have
been paid under this Section, shall be paid to the school treasurer of
the school district in which the district was situated, not including
high school districts.  When the district was situated in 2 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 public water
district to the assessed valuation of the real estate of all school
districts which were situated in the public water district.

All courts shall take judicial notice of the dissolution of such
public water districts.

(Source: P.A. 81-1489.)