In the event of the dissolution of the authority, the board of directors of the authority shall be trustees for the disposition of the property and the proceeds of the disposition of such property and all funds remaining on hand shall be deposited with the county treasurer who shall thereupon succeed to the powers and duties of the treasurers of the authority. When all of the property of the authority has been disposed of and the funds of the authority deposited with the county treasurer, the powers and functions of the board of directors of the authority, as trustees for dissolution, shall cease and the board of county commissioners shall succeed to all of the powers and duties of the authority insofar as it shall be necessary for them to wind up and conclude the affairs of the authority.
Added by Laws 1994, c. 237, § 8, eff. Sept. 1, 1994.