California Public Resources Code

§ 26567.1

PRC § 26567.1 Effective Jan 1, 1999Div. 17 · Ch. 2.3

Statute text

(a)The legislative body may, by resolution, order the dissolution of a district formed under this division. Any resolution ordering a dissolution is valid only if the legislative body, based on substantial evidence on the record, makes one or more of the following findings:

(1)The corporate powers have not been used, there is a reasonable probability that those powers will not be used in the future, and the district holds no significant liquid assets.

(2)The board of directors, by resolution passed by unanimous vote of the directors, or by a vote of the owners of more than 50 percent of the assessed valuation of the real property in the district, approved the dissolution of the district.

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Legislative history

Added by Stats. 1998, Ch. 806, Sec. 1. Effective January 1, 1999.