§ 57 — Dissolution of authorities

§ 57. Dissolution of authorities. An authority or the municipality\nmay apply to the supreme court in any county in which the municipality\nor any part thereof is located, for an order dissolving the authority.\nThe court thereupon shall hold a hearing in open court after such notice\nof hearing as the court may require. Upon a showing to the satisfaction\nof the court that provision has been made for the payment or\nsatisfaction of all of the outstanding obligations of the authority and\nfor the necessary expenses for the liquidation thereof, the court may\norder that the authority be dissolved. Upon such dissolution the\nproperty of the authority shall be and become the property of the\nmunicipality.\n