17B-2a-1411. Dissolution.
(1) The board may adopt a dissolution resolution if:
(a) the district has ceased operations in the service area; and
(b) the district has no outstanding debt or other obligations.
(2) The Legislature may dissolve the district by joint resolution.
(3) Upon dissolution of the district:
(a) all outstanding revenue bonds shall be defeased or retired in accordance with their terms before dissolution is effective; and
(b) all remaining assets of the district shall be transferred to the state.