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605 ILCS 10/33
(605 ILCS 10/33) (from Ch. 121, par. 100-33)
Sec. 33.
On April 1, 1968, all duties, obligations, functions and powers of
The Illinois State Toll Highway Commission, together with all property,
whether real or personal, rights, privileges, interest and any and all
other assets whether real, personal or mixed, shall be transferred to and
shall vest in The Illinois State Toll Highway Authority, which shall own,
operate and control the same in accordance with the provisions of "An Act
in relation to the construction, operation, regulation and maintenance of a
system of toll highways and to create The Illinois State Toll Highway
Commission, and to define its powers and duties and to repeal an Act
therein named", approved July 13, 1953, as amended, and all terms,
covenants and conditions set forth in any resolutions heretofore or
hereafter adopted authorizing and providing for the issuance of Revenue
Bonds by The Illinois State Toll Highway Commission under "An Act, in
relation to the construction, operation, regulation and maintenance of a
system of toll highways and to create The Illinois State Toll Highway
Commission, and to define its powers and duties and to repeal an Act
therein named", approved July 13, 1953, as amended, except as herein
provided. The chairman and commissioners of The Illinois State Toll Highway
Commission shall serve as the chairman and directors, respectively, of the
Authority, with all of the rights, privileges and emoluments of such
officers until such appointments are made by the Governor under Section 3
of this Act.
It is the intention and purpose of this Section to transfer management
and operation of the existing toll highways of The Illinois State Toll
Highway Commission to the board of directors of The Illinois State Toll
Highway Authority, but to require that the Authority comply with all
covenants, conditions, terms and provisions imposed by "An Act in relation
to the construction, operation, regulation and maintenance of a system of
toll highways and to create The Illinois State Toll Highway Commission, and
to define its powers and duties and to repeal an Act therein named",
approved July 13, 1953, as amended, until after all obligations of any kind
or character whatsoever incurred by The Illinois State Toll Highway
Commission under that Act have been paid in full from revenues, or income
from whatever source derived, including but not limited to bonds issued
under Section 17 herein. Title to such toll highway or toll highways
after all such obligations have been paid in full shall be vested in the
Authority hereby created, and the Authority hereby created is authorized to
continue to establish tolls, rates and charges for use of such facilities
and pledge the income therefrom, after maintenance and operation costs, to
the payment of any or all bonds issued under this Act, until all bonds
issued by the Authority under this Act have been paid in full,
notwithstanding any other law to the contrary.
(Source: Laws 1968, p. 199.)
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