On January 1, 2021, the Chicago South Suburban Mass Transit District is discontinued and the following shall occur:
         (1) After payment of all debts, settlement,
    
obligations, or claims of the District, any funds remaining after the sale and disposition of the District’s property, except for property and equipment transferred under paragraph (2), shall be disposed of by payment to the treasurer of each municipality that created the district in a pro rata manner based upon the length of scheduled transportation route miles operated in the several municipalities, but excluding those municipalities in which District parking lots are located.
        (2) Each parking lot owned by the District shall be
    
transferred to the municipality in which the parking lot is located at no cost to the municipality. In addition, any ancillary facilities or equipment used exclusively for the administration or maintenance of the parking lot shall also be transferred to the municipality. If any equipment is used for parking lots in more than one municipality, the municipalities in which such equipment is used shall enter into an agreement as to which municipality the equipment shall be transferred.
        (3) All books, records, papers, and documents of
    
the District are transferred to the Cook County Clerk. The documents include, but are not limited to, material in electronic or magnetic format and necessary computer hardware and software, unless such equipment was transferred to a municipality under paragraph (2).

Terms Used In Illinois Compiled Statutes 70 ILCS 3610/10

  • Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
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