§ 980-o. Dissolution. (a) Any district established or extended
pursuant to the provisions of this article, where there is no
indebtedness, outstanding and unpaid, incurred to accomplish any of the
purposes of the district, may be dissolved by local law by the
legislative body upon its own motion or upon the written petition of (1)
the owners of at least fifty-one percent or more of the total assessed
valuation of all benefited real property included in the boundaries of
the district and (2) at least fifty-one percent of the owners of
benefited real property within the area included in the district. The
legislative body shall request and consider the recommendations of the
district management association concerning any proposed dissolution;
provided that if the association has not submitted recommendations to
the legislative body within sixty days after request therefor, the
legislative body may adopt any such proposed dissolution without
considering such recommendations. In the event of dissolution, all
assets of the district shall revert to the municipality.

(b) A certified copy of the order of dissolution shall be filed with
the state comptroller at Albany, New York.