§4600.11. Dissolution of a tourism recovery and improvement district; procedure
A. Any tourism recovery and improvement district that has no outstanding indebtedness may be dissolved by resolution of the tourist commissioners by either of the following methods:
(1) During the operation of the tourism recovery and improvement district, there shall be a thirty-day period each year in which assessees may request the dissolution of the tourism recovery and improvement district. The first such period shall begin one year after the date of establishment of the district and shall continue for thirty days. The next such thirty-day period shall begin two years after the date of the establishment of the tourism recovery and improvement district. Each successive year of operation of the tourism recovery and improvement district shall have such a thirty-day period.
(2) The tourist commission shall initiate proceedings to dissolve a tourism recovery and improvement district upon the written petition of the owners or authorized representatives of the owners or authorized representatives of businesses in the district, signed by either:
(a) The business owners in the proposed tourism recovery and improvement district who will pay more than sixty-seven percent of the assessments proposed to be levied.
(b) More than sixty-seven percent of the total assessed businesses by number.
B. In the case of a petition weighted by the amount of assessment proposed to be levied as described in Subparagraph (A)(2)(a) of this Section, the amount of assessment attributable to a business owned by the same business owner that is in excess of fifty percent of the amount of all assessments proposed to be levied shall not exceed the value of fifty percent in determining whether the petition is signed by business owners who will pay more than sixty-seven percent of the total amount of assessments proposed to be levied.
C. The tourist commission shall adopt a resolution of intention to dissolve the tourism recovery and improvement district prior to the public hearing provided for in this Chapter. The resolution shall state the reason for the dissolution and the time and place of the public hearing. The resolution shall also contain a proposal to dispose of any assets acquired with the revenues from the assessment levied within the tourism recovery and improvement district. The notice of the public hearing on dissolution required by this Section shall be given by mail to the owner of each business subject to assessment in the tourism recovery and improvement district. The tourist commission shall conduct a public hearing on dissolution not less than thirty days after mailing the notice to the business owners. The public hearing shall be held not more than sixty days after the adoption of the resolution of intention.
Acts 2021, No. 319, §1, eff. June 15, 2021.