357D.12 - DISSOLUTION OF DISTRICT.

        357D.12  DISSOLUTION OF DISTRICT.         Upon petition of thirty-five percent of the resident eligible      electors, the board may dissolve a district and dispose of any      remaining property, the proceeds of which shall first be applied      against outstanding obligations and any balance shall be applied to      tax credit of property owners of the district.  However, if the      district is annexed, the board of supervisors may transfer the      remaining property and balance to the city which annexed the      territory.  The board shall continue to levy a tax after dissolution      of a district, of not to exceed twenty-seven cents per thousand      dollars of assessed value on all the taxable property of the      district, until all outstanding obligations of the district are paid.      
         Section History: Early Form
         [82 Acts, ch 1174, § 12] 
         Section History: Recent Form
         91 Acts, ch 111, §6