§ 424. Merger; dissolution.

Latest version.

(1)

In no event shall a merger involving the authority be permitted.

(2)

The charter of the authority may be revoked or amended and the authority dissolved by a special act of the Legislature.

(3)

The dissolution of the authority shall transfer the title to all property owned by the authority to Clay County, which shall also assume all indebtedness of the authority, unless otherwise provided in a plan adopted by the Clay County Commission.

(Ch. 94-491, § 25)

                    
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