7-16-2443. Effect of dissolution. (1) If dissolution of a county park district is authorized by a majority of the electorate of the district, the county governing body shall order the dissolution and file the order with the county clerk. The dissolution is effective upon the earlier of the following:
     (a) 6 months after the date of filing of the order; or
     (b) certification by the members of the county park commission that all debts and obligations of the district have been paid, discharged, or irrevocably settled.
     (2) (a) If debts or obligations of the district remain unsatisfied after the dissolution of the district, the county governing body shall, subject to 15-10-420 and for as long as necessary, levy a fee on each household or a property tax on all taxable property that is in the territory formerly comprising the district in a sufficient amount to be used to discharge the debts of the former district.
     (b) If bonds of the district issued under 7-16-2433 are outstanding as of the date of dissolution of the district, the county governing body shall levy property taxes on all taxable property in the district to provide for the payment of the principal of and interest on those bonds in accordance with their terms and the terms of the resolution of the district authorizing the bonds.
     (3) Any assets of the district remaining after all debts and obligations have been discharged become the property of the county.

     History: En. Sec. 15, Ch. 377, L. 1985; amd. Sec. 5, Ch. 510, L. 1999; amd. Sec. 56, Ch. 584, L. 1999; amd. Sec. 65, Ch. 574, L. 2001; amd. Sec. 16, Ch. 451, L. 2005.