48-2954 - Arizona Statutes

48-2954. Dissolution of district; disposition of assets A. When a majority of the bona fide owners of land in an irrigation district organized under this chapter petition the board of supervisors to call a special election for the purpose of submitting to the electors of the irrigation district a proposal to vote on dissolution of the irrigation district, setting forth in the petition that all indebtedness of every nature whatever has been fully satisfied and paid, the board of supervisors shall, if it is satisfied that all indebtedness has been fully satisfied, call an election to decide the question of the proposed dissolution. The election shall be called, held, conducted and the results determined in the same manner as the election for the organization of the district. B. If the result of the election is in favor of dissolution, the board of supervisors shall make and enter an order upon its records, and certify and record such order as upon organization of a district. C. If an irrigation district is dissolved as provided in this section, the board of directors of the district in office at the time of dissolution shall take control of all assets of the district, including all of its water, water rights and irrigation system and retain control and manage them until the electors of the district organize and take over control and management thereof. D. In the case of a district to which section 9-101.02 applies, the petition for incorporation of the community as a city or town and the election on dissolution held in conjunction with the election on incorporation shall be deemed to be the petition and election required by this section, so that when the other conditions of subsections A and B of this section shall have been satisfied, the district shall be dissolved. Upon dissolution, all assets which shall not previously have become subject to the jurisdiction of such city or town shall vest in that city or town.