3 AAC 110.320. Local option standards

(a) A borough may be dissolved using the local option method identified in AS 29.06.450 (a)(2) if the voters of the borough file a petition for dissolution under AS 29.06.460 and the commission determines that the borough 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) In determining whether a borough 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 performed by an independent certified public accountant identifying all assets and liabilities of the borough.

History: Eff. 7/31/92, Register 123; am 5/19/2002, Register 162

Authority: Art. X, sec. 12,

Ak Const.

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