Utah Code 17B-1-1308. Second public hearing — Dissolution resolution — Limitations on dissolution
Current as of: 2024 | Check for updates
|
Other versions
(1)
Terms Used In Utah Code 17B-1-1308
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Special district: means a limited purpose local government entity, as described in Section
17B-1-103 , that operates under, is subject to, and has the powers described in:(31)(a) this chapter; or(31)(b)(31)(b)(i) this chapter; and(31)(b)(ii)(31)(b)(ii)(A) Chapter 2a, Part 1, Cemetery Maintenance District Act;(31)(b)(ii)(B) Chapter 2a, Part 2, Drainage District Act;(31)(b)(ii)(C) Chapter 2a, Part 3, Fire Protection District Act;(31)(b)(ii)(D) Chapter 2a, Part 4, Improvement District Act;(31)(b)(ii)(E) Chapter 2a, Part 5, Irrigation District Act;(31)(b)(ii)(F) Chapter 2a, Part 6, Metropolitan Water District Act;(31)(b)(ii)(G) Chapter 2a, Part 7, Mosquito Abatement District Act;(31)(b)(ii)(H) Chapter 2a, Part 8, Public Transit District Act;(31)(b)(ii)(I) Chapter 2a, Part 9, Service Area Act;(31)(b)(ii)(J) Chapter 2a, Part 10, Water Conservancy District Act;(31)(b)(ii)(K) Chapter 2a, Part 11, Municipal Services District Act; or(31)(b)(ii)(L) Chapter 2a, Part 13, Infrastructure Financing Districts. See Utah Code 17B-1-102(1)(a) Within 180 days after the day on which the administrative body holds the public hearing described in Section 17B-1-1306, the administrative body shall hold a second public hearing to:(1)(a)(i) publicly explain the result of the study and preparation described in Subsection 17B-1-1306(2)(d)(i);(1)(a)(ii) describe whether the proposed dissolution meets each criterion described in Subsection (2); and(1)(a)(iii) adopt a resolution in accordance with Subsection (1)(b) or (c).(1)(b) Subject to Subsection (2), after a proposed dissolution petition has been certified under Section 17B-1-1305, the administrative body shall adopt a resolution:(1)(b)(i) certifying that the proposed dissolution satisfies the criteria described in Subsection (2); and(1)(b)(ii)(1)(b)(ii)(A) for an inactive special district, approving the dissolution of the special district; or(1)(b)(ii)(B) for an active special district, initiating the dissolution election described in Section 17B-1-1309.(1)(c) Subject to Subsection (2), for a proposed dissolution of an inactive district that an administrative body initiates by adopting a resolution under Subsection 17B-1-1303(1)(b), the administrative body may adopt a resolution:(1)(c)(i) certifying that the proposed dissolution satisfies the criteria described in Subsection (2); and(1)(c)(ii) approving the dissolution of the inactive special district.(2) The administrative body may not adopt a resolution under Subsection (1) unless:(2)(a) any outstanding debt of the special district is:(2)(a)(i) satisfied and discharged in connection with the dissolution; or(2)(a)(ii) assumed by another governmental entity with the consent of all the holders of that debt and all the holders of other debts of the special district;(2)(b) for a special district that has provided service during the preceding three years or undertaken planning or other activity preparatory to providing service:(2)(b)(i) another entity has committed to:(2)(b)(i)(A) provide the same service to the area being served or proposed to be served by the special district; and(2)(b)(i)(B) purchase, at fair market value, the assets of the special district that are required to provide the service; and(2)(b)(ii) all who are to receive the service have consented to the service being provided by the other entity; and(2)(c) all outstanding contracts to which the special district is a party are resolved through mutual termination or the assignment of the special district’s rights, duties, privileges, and responsibilities to another entity with the consent of the other parties to the contract.