238.275. Projects, transfer to commission or authority, when--abolishment of district, procedures, duties.
Projects, transfer to commission or authority, when--abolishment ofdistrict, procedures, duties.
238.275. 1. Within six months after development and initialmaintenance costs of its completed project have been paid, the districtshall pursuant to contract transfer ownership and control of the project tothe commission or a local transportation authority which shall beresponsible for all future maintenance costs pursuant to contract. Suchtransfer may be made sooner with the consent of the recipient.
2. At such time as a district has completed its project and hastransferred ownership of the project to the commission or other localtransportation authority for maintenance, or at such time as the boarddetermines that it is unable to complete its project due to lack of fundingor for any other reason, the board shall submit for a vote in an electionheld throughout the district the question of whether the district should beabolished. The question shall be submitted in substantially the followingform:
Shall the ......................................... TransportationDevelopment District be abolished?
3. The district board shall not propose the question to abolish thedistrict while there are outstanding claims or causes of action pendingagainst the district, while the district liabilities exceed its assets, orwhile the district is insolvent, in receivership or under the jurisdictionof the bankruptcy court. Prior to submitting the question to abolish thedistrict to a vote, the state auditor shall audit the district to determinethe financial status of the district, and whether the district may beabolished pursuant to law.
4. While the district still exists, it shall continue to accrue allrevenues to which it is entitled at law.
5. Upon receipt of certification by the appropriate electionauthorities that the majority of those voting within the district havevoted to abolish the district, and if the state auditor has determined thatthe district's financial condition is such that it may be abolishedpursuant to law, then the board shall:
(1) Sell any remaining district real or personal property it wishes,and then transfer the proceeds and any other real or personal propertyowned by the district, including revenues due and owing the district, tothe commission or any appropriate local transportation authority assumingmaintenance and control of the project, for its further use anddisposition;
(2) Terminate the employment of any remaining district employees, andotherwise conclude its affairs;
(3) At a public meeting of the district, declare by a majority votethat the district has been abolished effective that date; and
(4) Cause copies of that resolution under seal to be filed with thesecretary of state, the director of revenue, the commission, and with eachlocal transportation authority affected by the district. Upon thecompletion of the final act specified in this subsection, the legalexistence of the district shall cease.
(L. 1990 S.B. 479 & 649 § 65, A.L. 2007 S.B. 22)