(1)A port district may disincorporate after proceedings as required by this section. The port commission shall, upon receiving a petition for disincorporation signed by not less than twenty-five percent (25%) of the number of qualified electors casting votes at the last election of the port commissioners held therein, submit the question of whether such port district shall disincorporate to the electors of the port district. Such election shall be held in accordance with title 34, Idaho Code.
(2)In submitting the said question to the voters for their approval or rejection, the proposition shall be expressed on said ballot substantially in the following terms:
"Disincorporation of Port of …. Yes."
"Disincorporation of Port of …. No."
(Giving the name of the port district.)
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(1) A port district may disincorporate after proceedings as required by this section. The port commission shall, upon receiving a petition for disincorporation signed by not less than twenty-five percent (25%) of the number of qualified electors casting votes at the last election of the port commissioners held therein, submit the question of whether such port district shall disincorporate to the electors of the port district. Such election shall be held in accordance with title 34, Idaho Code.
(2) In submitting the said question to the voters for their approval or rejection, the proposition shall be expressed on said ballot substantially in the following terms:
"Disincorporation of Port of …. Yes."
"Disincorporation of Port of …. No."
(Giving the name of the port district.)
(3) The votes shall be canvassed in the same manner as in other elections. If the canvass of votes shows that less than two-thirds (2/3) of the votes cast were in favor of disincorporation, the port commission shall declare the petition for disincorporation denied, in which event no other election shall be held on the question of disincorporating the port district until the expiration of two (2) years from the date of the election so held. If it is found by the canvass of votes that two-thirds (2/3) of all the votes cast were in favor of disincorporation, the port commission shall certify such election results to the boards of commissioners of the county or counties in which the port district is located.
(4) The board or boards of commissioners of the county or counties shall thereupon enter an order that the port district be disincorporated, said order to take effect at the end of the calendar year in which the election was held, but in no event less than thirty (30) days from the date of the holding of the election.
(5) All proceedings following entry of the order of disincorporation shall be conducted to the extent practicable in the same manner as is provided for the disincorporation of municipal corporations under sections 50-2206 through 50-2214, Idaho Code; provided that in no event shall disincorporation be effective until all indebtedness of the port district has been paid or duly provided for; and provided further, that no port district may incur new or additional indebtedness after an order for disincorporation has been entered.