Presidential Decrees1 min read
Section 44May 25, 1973, Sec./Art. 44
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Dissolution. - A district may be dissolved by resolution of its board of directors filed in the manner of filing the resolution forming the district: Provided, however, to the adoption of any such resolution: (1) another public entity has acquired the assets of the district and has assumed all obligations and liabilities attached thereto; (2) all bondholders have been notified and they consent to said transfer and dissolution; and (3) a court of competent jurisdiction has found that said transfer and dissolution are in the best interest of the public.
Chapter XI
Protection to Districts
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