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DISESTABLISHMENT <br /> <br /> 36670. (a) Any district established or extended pursuant to the provisions of this part, where <br /> there is no indebtedness, outstanding and unpaid, incurred to accomplish any of the <br /> purposes of the district, may be disestablished by resolution by the city council in <br /> either of the following circumstances: <br /> (1) If the city council finds there has been misappropriation of funds, malfeasance, or <br /> a violation of law in connection with the management of the district, it shall notice <br /> a hearing on disestablishment. <br /> (2) During the operation of the district, there shall be a 30-day period each year in <br /> which assessees may request disestablishment of the district. The first such <br /> period shall begin one year after the date of establishment of the district and shall <br /> continue for 30 days. The next such 30-day period shall begin two years after the <br /> date of the establishment of the district. Each successive year of operation of the <br /> district shall have such a 30-day period. Upon the written petition of the owners <br /> of real property or of businesses in the area who pay 50 percent or more of the <br /> assessments levied, the city council shall pass a resolution of intention to <br /> disestablish the district. The city council shall notice a hearing on <br /> disestablishment. <br /> (b) The city council shall adopt a resolution of intention to disestablish the district prior <br /> to the public hearing required by this section. The resolution shall state the reason for <br /> the disestablishment, shall state the time and place of the public hearing, and shall <br /> contain a proposal to dispose of any assets acquired with the revenues of the <br /> assessments levied within the property and business improvement district. The notice <br /> of the hearing on disestablishment required by this section shall be given by mail to <br /> the property owner of each parcel or to the owner of each business subject to <br /> assessment in the district, as appropriate. The city shall conduct the public hearing <br /> not less than 30 days after mailing the notice to the property or business owners. The <br /> public heating shall be held not more than 60 days after the adoption of the resolution <br /> of intention. <br /> <br /> 36671. (a) Upon the disestablishment of a district, any remaining revenues, after all outstanding <br /> ' debts are paid, derived from the levy of assessments, or derived from the sale of assets <br /> acquired with the revenues, or from bond reserve or construction funds, shall be <br /> refunded to the owners of the property or businesses then located and operating within <br /> the district in which assessments were levied by applying the same method and basis <br /> that was used to calculate the assessments levied in the fiscal year in which the district <br /> is disestablished. All outstanding assessment revenue collected after disestablishment <br /> shall be spent on improvements and activities specified in the management district <br /> plan. <br /> (b) If the disestablishment occurs before an assessment is levied for the fiscal year, the <br /> method and basis that was used to calculate the assessments levied in the immediate <br /> prior fiscal year shall be used to calculate the amount of any refund. <br /> <br />Tri-Valley Tourism BID Management District Plan Page 23 <br /> <br /> <br />