§ 2-96. Grounds for dissolution.

Latest version.

Whenever the board of directors shall determine that the purposes for which the authority was formed have been substantially accomplished and that all bonds, notes and other obligations theretofore issued or incurred by the authority have been fully paid or payment has been provided therefor, the members of the board of directors shall, upon receipt of the approval of the governing body, thereupon dissolve the authority in the manner provided by law, subject to the limitations provided in section 2-95 hereof applicable to dissolution directed by the governing body.

(Ord. No. 5218, § 6, 5-28-87)

                    
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