Dissolution of authority

Sec. 41. (a) This section does not apply to a county having a consolidated city. (b) The county fiscal body and the municipal fiscal body of the county seat may by concurrent resolution dissolve a building authority. They may consider dissolving the building authority at any time, but they shall consider dissolving the building authority when they are presented with a petition signed by twenty percent (20%) of the registered voters residing in the county or thirty-five percent (35%) of the registered voters residing in the county seat. (c) The concurrent resolution must provide a plan for paying any obligations, including bonds, of the building authority and for the disposition of the funds and property of the building authority. [Pre-Local Government Recodification Citation: 19-8-4-26.6.] As added by Acts 1981, P.L.309, SEC.86.