The District shall dissolve on December 31, 2001 in the event that the District determines that there are no viable Regional Center projects located within the County. After such time, if the Council finds, following a public hearing or hearings, that the continued existence of the District would no longer serve the purposes of this Ordinance, it may by ordinance and in such manner as may be required by State law order that the District be dissolved. If the District has outstanding obligations at the time of such dissolution, the ordinance dissolving the District shall be subject to the payment in full of the outstanding obligations. Upon dissolution of the District and the winding up of its affairs, title to all remaining property and assets of the District shall vest in the County to be used for public purposes.

Upon satisfactory completion of dissolution proceedings, the Clerk of the Council shall indicate such dissolution by inscription of "Charter cancelled" on the Charter of the District on file with the County and, when available, on the duplicate original of the District, and the existence of the District shall cease. The Clerk of the Council shall give notice thereof pursuant to State law and to other persons requested by the District in its dissolution statement. (Added by Ord. 01-041, June 27, 2001, Eff date July 8, 2001; Amended by Ord. 02-066, Nov. 4, 2002, Eff date Nov. 15, 2002).