As used in sections 703.31 to 703.39 of the Revised Code:

“Date the dissolution is effective” means the date the election result is certified under section 703.33 of the Revised Code or the date the attorney general files a certified copy of a court’s order of dissolution with the secretary of state, auditor of state, and county recorder, as applicable, under section 118.31 or 703.34 of the Revised Code.

“Period when a dissolution is in question” means the period beginning on the date a petition under section 703.33 of the Revised Code is presented or a legal action is filed by the attorney general under section 118.31 or 703.34 of the Revised Code and ending the date the result of the election under section 703.33 of the Revised Code is certified or the decision of the court of common pleas under section 118.31 or 703.34 of the Revised Code is declared.

“Transition period” means the period beginning on the date the dissolution is effective and ending on the date the transition supervisory board determines all outstanding debts, obligations, and liabilities of the dissolved village have been resolved, all real and personal property of the dissolved village has been transferred or otherwise disposed of, and all utility property and utility services have been transferred.

“Utility services” means electric, water, sewer, and other similar utilities.