Illinois Compiled Statutes 70 ILCS 705/14.09 – The consolidation of any district into a consolidated district shall …
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Terms Used In Illinois Compiled Statutes 70 ILCS 705/14.09
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
The consolidation of any district into a consolidated district shall not affect the obligation of any contract entered into by the district consolidated into the consolidated district. Such contracts shall be taken over and assumed by the consolidated district.