§ 45-25-32 - Dissolution of authority. - Rhode Island Statutes

SECTION 45-25-32

   § 45-25-32  Dissolution of authority.– An authority or the city may apply, to the superior court in any county inwhich the city or any part of it is located, for an order dissolving theauthority. The court shall hold a hearing in open court after giving notice ofhearing as the court may require. Upon a showing to the satisfaction of thecourt that provision has been made for the payment or satisfaction of all ofthe outstanding obligations of the authority and for the necessary expenses forits liquidation, the court may order that the authority be dissolved. Upondissolution the property of the authority becomes the property of the city.