Sec. 10. (a) If the county executive approves dissolution under section 6 of this chapter, the county executive shall adopt:
(1) an ordinance; or
(2) an order in a county having a consolidated city;
dissolving the town.
(b) Except as provided in subsection (e), a dissolution takes effect:
(1) at least sixty (60) days after the ordinance or order under subsection (a) is adopted; and
(2) when the county auditor files a copy of the ordinance or order with:
(A) the circuit court clerk of each county in which the town is located; and
(B) the office of the secretary of state.
(c) The property owned by the town after payment of debts and liabilities shall be disposed of by the county executive. Any proceeds remaining shall be deposited in the county general fund. Dissolution of a town does not affect the validity of a contract to which the town is a party.
(d) After dissolution, the books and records of the town become the property of the county executive for safekeeping.
(e) A dissolution under this section may not take effect during the year preceding a year in which a federal decennial census is conducted. A dissolution under this section that would otherwise take effect during the year preceding a year in which a federal decennial census is conducted takes effect January 1 of the year in which a federal decennial census is conducted.
(f) Notwithstanding subsection (e) as that subsection existed on December 31, 2009, a dissolution that took effect January 2, 2010, because of the application of subsection (e), as that subsection existed on December 31, 2009, is instead considered to take effect January 1, 2010, without any additional action being required.
As added by P.L.342-1987, SEC.2. Amended by P.L.5-1989, SEC.112; P.L.10-1992, SEC.29; P.L.3-1997, SEC.460; P.L.123-2000, SEC.8; P.L.113-2010, SEC.126.