315 ILCS 30/31
2021 Illinois Compiled Statutes|Chapter 315 - URBAN PROBLEMS|315 ILCS 30/ - Urban Renewal Consolidation Act of 1961.|Part III - General Provisions

 (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.)