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 Stamford
 Code of Ordinances
 Chapter 114. DOWNTOWN SPECIAL SERVICES DISTRICT

  § 114-9. Dissolution.  

Latest version.

  • A.

    The District may be dissolved at any time in any one of the following ways:

    (1)

    By the Board of Representatives' adopting an ordinance repealing this chapter; or

    (2)

    By the Board of Commissioners', on its own initiative or upon the written request of twenty-five percent (25%) in number of the property owners, holding a referendum among all property owners on the question of whether the District should be dissolved, provided that a majority of property owners shall respond affirmatively or provided that property owners, the assessments of which shall constitute more than one-half (½) of the total assessments within the District, shall respond affirmatively. Such a referendum shall be conducted in the manner described in § 114-5 of this chapter. The District shall reimburse the city five thousand dollars ($5,000) to compensate for costs of such a referendum. Such referendum cannot be held more than once each fiscal year.

    B.

    If the District is dissolved, the Board of Commissioners shall proceed to wind up the affairs of the District as of the end of the then-current fiscal year.

    C.

    If, after the dissolution of the District, the District shall have liabilities, whether fixed or contingent, the Board of Representatives of the city may impose, in addition to the regular municipal levy, a levy on the property, in the same manner as is provided for the determination of such levy by the Board of Commissioners in this chapter, for as many years as any such liabilities shall remain outstanding, and such levy shall be calculated to produce enough revenues to satisfy and release such liabilities as they become due, and such revenues shall be deposited into the city's general fund and shall be disbursed by the city, at the direction of the Mayor, solely for the purposes stated herein. If, after the dissolution of the District, the District shall have assets which remain following the winding up of the affairs of the District, such assets shall be transferred to the city.