(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

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Terms Used In Alaska Statutes 29.06.470

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
(1) the municipality no longer meets the minimum standards prescribed for incorporation by Alaska Stat. Chapter 29.05, or former Alaska Stat. § 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 Alaska Stat. § 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.
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