Illinois Code § 65 ILCS 5/7-6-3

If a majority of the votes cast on
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the question are "yes," the municipality is dissolved. But if a majority of the
votes cast on the question are "no," the corporate authorities
shall proceed with the affairs of the municipality as though the
referendum had never been held. After a
defeat, however, the proposition
shall not be submitted to a vote in the same municipality for a period
of 22 months.

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