Sec. 24. Dissolution of Joint Agencies. Whenever the board of commissioners of a joint agency and the governing bodies of its member municipalities by resolution or ordinance determine that the purposes for which the joint agency was formed have been substantially fulfilled and that all bonds issued and all other obligations incurred by the joint agency have been fully paid or satisfied or provision for the payment thereof has been made in accordance with the terms of the resolution or trust agreement securing the same, the board of commissioners and governing boards may declare the joint agency to be dissolved. On the effective date of the resolution or ordinance, the title to all funds and other property owned by the joint agency at the time of the dissolution shall vest in the member municipalities of the joint agency as provided in this chapter and the bylaws of the joint agency.
As added by Acts 1980, P.L.68, SEC.1.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 1. Utilities Generally
Chapter 2.2. Municipal Electric Utility Programs
8-1-2.2-1. Findings and Purpose
8-1-2.2-3. Authorization to Cooperate
8-1-2.2-4. Joint Ownership of Project
8-1-2.2-5. Sale of Capacity or Output by a Municipality
8-1-2.2-6. Licenses and Approvals
8-1-2.2-7. Authority to Contract for Energy Exchange
8-1-2.2-9. General Powers of Joint Agencies
8-1-2.2-10. Contracts With Municipality
8-1-2.2-12. Trust Agreement or Resolution on Bondholders' Rights
8-1-2.2-16. Bond Eligibility for Investment
8-1-2.2-17. Agreement of State With Bondholders
8-1-2.2-18. Limited Liability on Bonds
8-1-2.2-19. Approval of Commission
8-1-2.2-20. Acquisition and Construction Contracts
8-1-2.2-22. Payments in Lieu of Taxes
8-1-2.2-24. Dissolution of Joint Agencies
8-1-2.2-26. Government Grants and Loans
8-1-2.2-28. Liability of Officers
8-1-2.2-29. Construction With Other Laws
8-1-2.2-31. Member Participating by Electronic Means of Communication