22-1-711. Effect of dissolution. (1) If dissolution of a public library district is authorized by a majority of the electorate of the district, the county governing body shall order the dissolution and file the order with the county clerk. The dissolution is effective upon the earlier of the following:

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(a)6 months after the date of the filing of the order; or

(b)certification by the board of trustees that all debts and obligations of the district have been paid, discharged, or irrevocably settled.

(2)(a) If debts or obligation of the public library district remain unsatisfied after the dissolution of the district, the county governing body shall, subject to 15-10-420 and for as long as necessary, levy a property tax in an amount not to exceed the amount authorized for the district, on all taxable property that is in the territory formerly comprising the district, to be used to discharge the debts of the former district.

(b)If the electors of the district lowered the maximum amount to be levied for the operation of the district within 2 calendar years prior to the election authorizing the dissolution, the county governing body may, subject to 15-10-420, levy a property tax not to exceed the levy authorized prior to the reduction of the maximum levy for the discharge of the district’s obligations.

(3)Any asset of the public library district remaining after all debts and obligations have been discharged becomes the property of the county in which the asset is located.