§ 7-17. Dissolution of District.

(a) Dissolution on certain events.

In the event that the District and the Authority are either not approved through the process described in § 7-15, or are not renewed as provided in § 7-16, the Authority shall cease its operations, and the District shall cease to exist, at the end of the City's fiscal year in which such terminating event occurs.

(b) Limited continuation.

The Authority shall continue its existence only so long as is necessary to terminate operations in a reasonable fashion and to arrange for the refunding of all funds not needed to satisfy outstanding obligations and reserves for uncertain obligations and liabilities.

(c) Unspent funds.

Any unspent funds shall revert back to the City's general fund.