Sec. 29.06.470. Standards.
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Sec. 29.06.470. Standards.
(a)Except as provided in
(b)of this section, voters of a municipality may petition for dissolution when the municipality is free of debt, or, if in debt, each of its creditors is satisfied with a method of repayment and
(1)the municipality no longer meets the minimum standards prescribed for incorporation by AS 29.05 , or former AS 29.18.030 if it is a third class borough;
(2)the municipality ceases to use each of its mandatory powers; or
(3)the dissolution petition filed under AS 29.06.460 is signed by a number of voters of the municipality proposed to be dissolved greater than 50 percent of the number of votes cast in the last regular election in that municipality.
(b)Voters of a city in a borough may petition for dissolution of the city if the borough consents to assume the city's rights, powers, duties, assets, and liabilities. The consent must be ratified by a majority of borough voters voting on the question.