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(a) A city may be dissolved using the local option method identified in AS 29.06.450 (a)(2) if the voters of the city file a petition for dissolution under AS 29.06.460 and the commission determines that the city qualifies for dissolution under AS 29.06.470 (a) or AS 29.06.470 (b). The commission will deny or accept a petition in accordance with AS 29.06.
(b) 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 under AS 29.06.470 , 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 proposed for dissolution.
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