Disestablishment Of District — Assets And Liabilities

TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 26 BUSINESS IMPROVEMENT DISTRICTS 50-2619. Disestablishment of district — Assets and liabilities. Upon disestablishment of a district, any proceeds of the special assessments, or assets acquired with such proceeds, or liabilities incurred as a result of the formation of such district, shall be subject to disposition as the legislative authority shall determine; provided, however, any liabilities, either current or future, incurred as a result of action taken to accomplish the purposes of section 50-2601 , Idaho Code, shall not be an obligation of the general fund or any special fund of the city, but such liabilities shall be provided for entirely from available revenue generated from the projects or facilities authorized by section 50-2601 , Idaho Code, or from special assessments on the property specially benefited within the district.