§ 19-17. Dissolution of District.

(a) Dissolution on non-renewal.

If the District is not renewed as provided in § 19-16 of this subtitle, the Authority shall cease its operations and the District shall cease to exist at the end of the City's fiscal year in which approval was not granted, subject to limited continuation as provided in subsection (b) of this section.

(b) Limited continuation.

The Authority shall continue its existence only as long as necessary to:

(1) terminate operations in a reasonable fashion;

(2) arrange for the disposition of all funds not needed to satisfy outstanding obligations or to provide reserves for uncertain obligations and liabilities; and

(3) arrange for the disposition of all real and personal property owned by the Authority and submit all proceeds to the City.

(c) Unspent funds.

Any unspent funds shall revert to the City's general fund and shall be used for improvements in the communities in immediate proximity to the video lottery facility, as required by State Government Article § 9-1A-31(b)(3)(ii).