§ 14-125-904 - Termination of district affairs -- Certification of dissolution. - Arkansas Statutes

14-125-904. Termination of district affairs -- Certification of dissolution.

(a) Upon receipt from the Arkansas Soil and Water Conservation Commission of a certification that the commission has determined that the continued operation of the district is not administratively practicable and feasible, pursuant to the provisions of this subchapter, the directors shall forthwith proceed to terminate the affairs of the district.

(b) The directors shall dispose of all property belonging to the district at public auction and shall pay over the proceeds of the sale to be covered into the State Treasury.

(c) The directors shall thereupon file an application, duly verified, with the Secretary of State for the discontinuance of the district and shall transmit with the application the certificate of the Arkansas Soil and Water Conservation Commission setting forth the determination of the commission that the continued operation of the district is not administratively practicable and feasible.

(d) The application shall recite that the property of the district has been disposed of and the proceeds paid over as provided in this subchapter and shall set forth a full accounting of the properties and proceeds of the sale.

(e) The Secretary of State shall issue to the directors a certificate of dissolution and shall record this certificate in an appropriate book or record in his office.