§ 29-25-115 — Dissolution procedure

Any district organized pursuant to this
article may be dissolved pursuant to the resolution, ordinance, or contract creating
the district or pursuant to the provisions of this section. Under this section, any such
district may be dissolved after notice is given, publication is made, and a hearing is
held in the manner prescribed by sections 29-25-105 and 29-25-106. The
dissolution of the district may be initiated by filing in the office of the clerk of the
governing body or bodies either a petition signed by the persons described in
section 29-25-105 (2) or, in the case of a district that has not filed an operating plan
as required by section 29-25-110 for two years, a resolution of the governing body
or bodies. After hearing any protests against or objections to dissolution and if the
governing body or bodies determines that it is for the best interests of all
concerned to dissolve the district, the body or bodies shall so provide by an
effective resolution or ordinance, a certified copy of which shall be filed in the
office of the county clerk and recorder in each of the counties in which the district
or any part of the district is located. Upon such filing, the dissolution shall be
complete. Notwithstanding any other provision of this section, upon petition of
persons who own real or personal property in the service area of the proposed
district having a valuation for assessment of not less than fifty percent of the
valuation for assessment of all real and personal property in the service area of the
proposed district and who own at least fifty percent of the acreage in the proposed
district, the district shall impose its existing taxes solely to meet any existing
financial obligations, and shall be dissolved as soon as the district has no
outstanding financial obligations.

Legislative History

Source: L. 98: Entire article added, p. 1091, � 1, effective September 1.