{"data":{"id":"us-ky/krs-91.762","jurisdiction":"us-ky","citation":"KRS 91.762","heading":"Change of boundaries -- Dissolution -- Disposition of excess funds.","body":"(1) The boundaries of the management district may be changed at any time by the\nlegislative body in the same manner as provided in KRS 91.750 to 91.762 for the\nestablishment of the management district.\n(2) The management district shall be dissolved by the legi slative body upon the receipt\nof a petition requesting dissolution that is signed by a number of real property\nowners who together are the owners of real property within the management district\nequal to at least fifty and one -tenth percent (50.1%) of the a ssessed value of the\nproperty and thirty-three percent (33%) of the number of property owners within the\nmanagement district, except that a management district shall not be dissolved if the\ndistrict has any outstanding indebtedness.\n(3) If a management district is to be dissolved, and after the payment of all obligations\nand costs of administration incurred on behalf of the management district, there\nremain excess funds from assessments paid by property owners, then the city,\nconsolidated local government, or urban-county, by ordinance, shall provide for:\n(a) The return of the excess funds to the owners of properties in amounts\nproportionate to the amounts of the assessments they paid for the district;\n(b) Use of the excess funds for continued provision of t he economic\nimprovements until the excess funds are fully spent; or\n(c) Use of part of the excess funds for continued provision of economic\nimprovements and return of the balance of the excess funds in proportionate\namounts to affected property owners.","path":["KRS Chapter 91"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=25552","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:49Z","sha256":"203ab2e7636a4329142f477991c16665b46f51e561f5d924400ef1dcb07df389","source_id":"us-ky","stale":false,"prev":"us-ky/krs-91.760","next":"us-ky/krs-91.800"},"notice":"GroundRules: Original legal text. Not legal advice."}