17B-2a-1411. Dissolution.
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/ut/title-17b/chapter-2a/17b-2a-1411A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/6/2026
17B-2a-1411. Dissolution.
(1)The board may adopt a dissolution resolution if:
(a)the district has ceased operations in the service area; and
(b)the district has no outstanding debt or other obligations.
(2)The Legislature may dissolve the district by joint resolution.
(3)Upon dissolution of the district:
(a)all outstanding revenue bonds shall be defeased or retired in accordance with their terms before dissolution is effective; and
(b)all remaining assets of the district shall be transferred to the state.
Enacted by Chapter 474 , 2026 General Session