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(a) After filing a petition under AS 29.06.450 (a)(1), a city may dissolve if the commission determines that
(1) dissolution of the city is in the best interests of the state;
(2) the city is free of debt or has satisfied each creditor with a method of repayment; and
(3) the city
(B) has ceased to exercise any of its mandatory powers.
(b) The commission may determine whether its decision favoring dissolution of a city will be submitted for legislative review in accordance with art. X, sec. 12, Constitution of the State of Alaska.
(c) Except as otherwise provided in this subsection, in determining whether a city is free of debt or has satisfied each creditor with a method of repayment, the commission will require an audit identifying all assets and liabilities of the city. For the proposed dissolution of a home rule or first class city, and for the proposed dissolution of a second class city that has undergone an audit in each of the three years immediately preceding the petition for dissolution, the audit must be performed by an independent certified public accountant. For the proposed dissolution of a second class city that has not undergone an audit in each of the three years immediately preceding the petition for dissolution, the department shall submit a written report identifying all assets and liabilities of that city.
History: Eff. 7/31/92, Register 123; am 5/19/2002, Register 162
Authority: Art. X, sec. 12,
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Last modified 7/05/2006