Agency dissolution -- Restrictions -- Notice -- Recording requirements -- Agency records -- Dissolution expenses

(1) (a) Subject to Subsection (1)(b), the community legislative body may, by ordinance, dissolve an agency. (b) A community legislative body may adopt an ordinance described in Subsection (1)(a) only if the agency has no outstanding bonded indebtedness, other unpaid loans, indebtedness, or advances, and no legally binding contractual obligations with a person other than the community. (2) (a) The community legislative body shall: (i) within 10 days after adopting an ordinance described in Subsection (1), file with the lieutenant governor a copy of a notice of an impending boundary action, as defined in Section 67-1a-6.5, that meets the requirements of Subsection 67-1a-6.5(3); and (ii) upon the lieutenant governor's issuance of a certificate of dissolution under Section 67-1a-6.5, submit to the recorder of the county in which the agency is located: (A) the original notice of an impending boundary action; (B) the original certificate of dissolution; and (C) a certified copy of the ordinance that dissolves the agency. (b) Upon the lieutenant governor's issuance of the certificate of dissolution under Section 67-1a-6.5, the agency is dissolved. (c) Within 10 days after receiving the certificate of dissolution from the lieutenant governor under Section 67-1a-6.5, the community legislative body shall send a copy of the certificate of dissolution and the ordinance adopted under Subsection (1) to the State Board of Education, and each taxing entity. (d) The community legislative body shall post a notice of dissolution for the community, as a class A notice under Section 63G-30-102, for at least 10 days. (3) The books, documents, records, papers, and seal of each dissolved agency shall be deposited for safekeeping and reference with the recorder of the community that dissolved the agency. (4) The agency shall pay all expenses of the dissolution.