65 ILCS 5/7-7-12
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 7 - Territory

(65 ILCS 5/7-7-12) (from Ch. 24, par. 7-7-12)Sec. 7-7-12.     Time and Effect of Consolidation.     (a) Consolidation shall occur immediately upon the taking of office of  the corporate authorities of the consolidated municipality.  The  consolidated municipality shall immediately be incorporated and shall  thenceforth be deemed a municipality incorporated pursuant to this Code.  Upon incorporation, the chief executive officer of the consolidated  municipality shall comply with  Section 2-1-5 of this Code relating to records of incorporation.(b) Simultaneously with the incorporation of the consolidated  municipality, the consolidating municipalities are dissolved. Except for  the notice procedures contained in Section 7-6-5 of this Code, dissolution  procedures in this Code shall not apply.(c) The terms of offices of the elected officials of the  consolidating municipalities, if they otherwise would have expired, shall  be extended until the elected officials of the consolidated  municipality take office. Provided, however, that no consolidation  ordinance shall provide for or result in such an extension of office to a  date more than one year following the date of the referendum.(d) The consolidated municipality shall have the territory and  inhabitants, and shall succeed to all rights and property of every kind and  description, as well as all obligations and liabilities of every kind and  description, of the consolidating municipalities. No consolidation shall  adversely affect any vested right held by any person in respect of any  consolidating municipality. No suit or prosecution of any kind involving a  consolidating municipality shall be affected by any consolidation except  insofar as it is necessary to substitute parties. However, when a change in  the form of government makes applicable a provision in this Code that gives  a different remedy in such suit or prosecution, the remedy shall be  cumulative to the remedies before provided.(e) Except as hereinafter provided, the consolidated municipality shall  assume and pay all debts and liabilities, and shall perform all contracts of  the consolidating municipalities. Upon consolidation, the title to all  property which belonged to the consolidating municipalities vests  in the consolidated municipality, to be held, however, for the same  purposes and uses, and subject to the same conditions as before consolidation.(f) With respect to the property of the consolidating municipalities,  the consolidated municipality may merge, interconnect and manage any  municipally owned facility, utility, water, sewerage or sewerage disposal  system, provided that such merger, interconnection or management does not  adversely affect the rights of any existing bond holders. The county clerk  shall continue to extend tax rates existing as of the date of consolidation  upon the taxable property of the consolidating municipality alone until the  payment of the principal or interest of the bonds of the consolidating  municipality is complete. Nothing in this Section shall be construed to  prevent the consolidated municipality from incurring indebtedness for the  consolidated municipality as a whole after its consolidation.    (Source: P.A. 85-1159.)