(a)
(1) Proceedings instituted under any general or special law for refunding the indebtedness of any improvement district may include the reorganization of the governing body of the district.
(2) The reorganization shall be effected by the same court or board as is given the authority and jurisdiction under the law to provide for the refunding of the bonds of the district.
(b)
(1) The membership of the governing body may be reduced or increased as may be deemed advisable.
(2)
(A) Pending the election of any additional members, if the law creating the district prescribes that they be elected, additional members shall be appointed by the court or board where the proceedings are had and shall be made in compliance with the petition of the petitioners prosecuting the proceedings.
(B) It is mandatory upon any court or board to appoint the additional members named in any petition of fifty-one percent (51%) or more of the owners in assessed value of the real estate of the district.
(c) Any reorganized board shall have the same power, be given the same rights, have imposed upon it the same duties, and be selected in the same manner as was the old board.
(d) The reorganization of the district may include:
(1) The change of the name of the district;
(2) The method of collecting taxes;
(3) The keeping of records;
(4) The handling of funds of the district; and
(5) The doing of anything that would not operate to impair the outstanding obligations of the district.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.