CHAPTER 15. DISSOLUTION DUE TO LOSS OF BENEFIT

IC 14-33-15
    Chapter 15. Dissolution Due to Loss of Benefit

IC 14-33-15-1
Petition
    Sec. 1. A district may be dissolved by the same procedure used toestablish the district. The petition must set forth the change ofcircumstances that causes the district to lose the district's benefit.
As added by P.L.1-1995, SEC.26.

IC 14-33-15-2
Prima facie evidence that district should be dissolved
    Sec. 2. If:
        (1) the board fails to produce within two (2) years satisfactoryevidence of progress in the preparation of the district plan; or
        (2) federal or state money, or both, contemplated in the petitionfor the establishment of the district appears to be unavailable;
it is prima facie evidence that the district should be dissolved.
As added by P.L.1-1995, SEC.26.

IC 14-33-15-3
Court ordering dissolution
    Sec. 3. If the court finds that a district is no longer of benefit, thecourt shall do the following:
        (1) Order the district dissolved.
        (2) Order the board to take necessary steps to terminate allactivities of the district.
As added by P.L.1-1995, SEC.26.

IC 14-33-15-4
Final accounting and records filing
    Sec. 4. As the final action the board shall make an accounting tothe court and file all records of the district with the court. The courtshall then discharge the board.
As added by P.L.1-1995, SEC.26.

IC 14-33-15-5
District with bonds or notes outstanding
    Sec. 5. The court may not dissolve a district if the district hasbonds or notes outstanding. If the court finds that the activities of thedistrict should cease, the court shall order the district to function onlyfor the purpose of:
        (1) certifying necessary assessments or taxes; and
        (2) collecting the assessments and taxes;
to pay off the financial obligations of the district. When all financialobligations are paid, the court may order the district dissolved.
As added by P.L.1-1995, SEC.26.