7-22-2232. Dissolution of district. (1) Upon receipt of a petition signed by the owners of at least 51% of the land in the district and after a hearing on the petition, a district may be dissolved by order of the governing body. Notice of the hearing is to be given by posting notice in at least three public places in the district and by publishing notice at least once in a newspaper of general circulation in the district. If the governing body finds it to be in the best interest of the district lands and residents to terminate the district, the governing body shall so order.
     (2) The dissolution order shall provide for a termination date and for liquidating the district assets and liabilities. Any money remaining in the district fund after all assets and liabilities have been liquidated shall be transferred to the county general fund.

     History: En. Sec. 17, Ch. 391, L. 1981.