N.Y. General Municipal Law § 980-o: Dissolution

§ 980-o. Dissolution. (a) Any district established or extended

pursuant to the provisions of this article, where there is no

indebtedness, outstanding and unpaid, incurred to accomplish any of the

purposes of the district, may be dissolved by local law by the

legislative body upon its own motion or upon the written petition of (1)

the owners of at least fifty-one percent or more of the total assessed

valuation of all benefited real property included in the boundaries of

the district and (2) at least fifty-one percent of the owners of

benefited real property within the area included in the district. The

legislative body shall request and consider the recommendations of the

district management association concerning any proposed dissolution;

provided that if the association has not submitted recommendations to

the legislative body within sixty days after request therefor, the

legislative body may adopt any such proposed dissolution without

considering such recommendations. In the event of dissolution, all

assets of the district shall revert to the municipality.

(b) A certified copy of the order of dissolution shall be filed with

the state comptroller at Albany, New York.