Tenn. Code Ann. § 7-84-727: Dissolution of districts

Each district established pursuant to this part must be dissolved by the governing bodies of the host municipalities immediately upon:

(1) Written petition filed by the owners of either seventy-five percent (75%) of the assessed value of the property in the district, based on the most recent certified city property tax rolls, or fifty percent (50%) of the owners of record within the district; or

(2) The payment and discharge of all outstanding bonds, notes, or other obligations payable solely from the special assessment revenues levied on the property within the district; provided, that dissolution must not occur prior to the payment in full and discharge of such debt obligations.