2007 California Public Utilities Code Chapter 11. Dissolution

CA Codes (puc:29750-29757)

29750.  If district bonds for the acquisition or construction of
rapid transit facilities have not been voted by the electors within
five years of the creation of the district, the board of directors
may call an election for the purpose of submitting to the voters of
the district the question of whether the district will be dissolved.
Upon the filing with the secretary of the district of a petition
signed by voters within the district equal in number to at least 25
percent of the total vote cast in the district for all candidates for
Governor at the last preceding general election at which a Governor
was elected, asking that the question of dissolution of the district
be submitted to the voters of the district, the board shall call an
election for that purpose.



29751.  The election, for the purpose of submitting to the voters of
the district the question of whether or not the district shall be
dissolved, shall be held within 60 days following the date on which
it is ordered by the board or on which the petition is filed.



29752.  Notice of any election for dissolution, whether called
because of the filing of a petition or ordered by the board without
petition, shall be published.  The date fixed for the election shall
not be less than 30 days from the date of the first publication of
the notice.



29753.  The ballots for the election shall contain substantially the
instructions required to be printed on ballots for use at general
state and county elections and in addition the following:


     __________________________________________________________
                                                   |     |
                                                   | YES |
       Shall the San Francisco Bay Area Rapid      |_____|_____
       Transit District be dissolved?              |     |
                                                   | NO  |
     ______________________________________________|_____|_____




29754.  No other notice of the election other than that provided for
in this article need be given and no sample ballots need be sent to
the voters.


29755.  If upon a canvass of the election it is found that a
majority of all votes cast on the proposition at the election were in
favor of the dissolution, the dissolution shall be deemed carried
and approved by the voters.  The board shall meet on Monday next
succeeding the election and canvass the votes cast.



29756.  If a majority of the qualified electors voting at said
election vote in favor of such dissolution, the board of directors
shall, by resolution entered upon its minutes, declare the district
dissolved.  A certified copy of said resolution shall be filed with
the county and city and county recorders and with the Secretary of
State and also with the county and city and county assessors and the
State Board of Equalization.  Upon the adoption of said resolution,
said district shall be dissolved.  The board of directors, if
dissolution is voted, shall wind up the affairs of the district and
pay all indebtedness thereof, and any moneys remaining thereafter
shall be paid over to the counties, city and county and cities, in
which the district lies, in proportion to the assessed valuation of
taxable property in said city and county and cities and in the
unincorporated area of the counties included in the district, as
shown by the assessment rolls of the city and county and counties
last equalized at the date of such dissolution.




29757.  In the event that the proposition for dissolution fails to
carry, no subsequent election for the dissolution of the district
shall be called until after the expiration of one year from the date
of the prior election.