Section 16-11-8
Indebtedness where county unit system adopted.
Whenever the control and administration of education matters affecting a municipality having a city board of education is transferred to or for any reason becomes vested in the county board of education, the existing indebtedness created prior to such transfer and the rights to collect the same shall in nowise be impaired.
(School Code 1927, §190; Code 1940, T. 52, §150.)