§ 4.1-20-42 — Termination of affairs of district - Disposal of property - Certificate of dissolution

dissolution.
Upon receipt from the committee of its certification that the committee has determined the
continued operation of the district is not administratively feasible, the supervisors shall proceed
to terminate the affairs of the district. The supervisors of the district may dispose of all or part of
any property belonging to the district at public auction and shall use the proceeds of the sale to
pay any liabilities. The balance of any funds and undisposed property becomes the property of
the county or counties the district is a part of as directed by the supervisors. The supervisors
thereupon shall file an application, duly verified, with the secretary of state for the
discontinuance of the district, and shall transmit with such application the certificate of the
committee setting forth its determination that the continued operation of the district is not
administratively feasible. The application must recite what property, if any, of the district has
been disposed of, the liabilities paid, and the property or proceeds paid over as provided herein
and must set forth a full accounting of such properties and their sale proceeds. The secretary of
state shall issue to the supervisors a certificate of dissolution and record the certificate in an
appropriate record in the secretary of state's office.