§ 25-415 Dissolution.
AC § 25-415
(a)Any district established or extended pursuant to the provisions of this chapter, where there is no indebtedness, outstanding and unpaid, incurred to accomplish any of the purposes of the district, may be dissolved by local law of the city council upon its own motion or upon the written petition of (1) the owners of at least fifty-one percent or more of the total assessed valuation of all benefited real property included in the boundaries of the district and (2) at least fifty-one percent of the owners of benefited real property within the area included in the district. The city council shall request and consider the recommendations of the district management association concerning any proposed dissolution; provided that if the association has not submitted recommendations to the city council within sixty days after request therefor, the city council may adopt any such proposed dissolution without consider- ing such recommendations. In the event of dissolution, all assets of the district shall revert to the city.
(b)A certified copy of the order of dissolution shall be filed with the state comptroller at Albany, New York. Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 1990/082.
