Section 36-5-1.1-10 - Dissolution ordinance; effective date; disposition of property; validity of contracts; records(a) If the county executive approves dissolution under section 6 of this chapter, the county executive shall adopt:(2) an order in a county having a consolidated city; dissolving the town.
(b) A dissolution takes effect: (1) at least sixty (60) days after the ordinance or order under subsection (a) is adopted; and(2) when the county auditor files a copy of the ordinance or order with:(A) the circuit court clerk of each county in which the town is located; and(B) the office of the secretary of state.(c) The property owned by the town after payment of debts and liabilities shall be disposed of by the county executive. Any proceeds remaining shall be deposited in the county general fund. Dissolution of a town does not affect the validity of a contract to which the town is a party.(d) After dissolution, the books and records of the town become the property of the county executive for safekeeping.Amended by P.L. 104-2022,SEC. 167, eff. 4/1/2022.As added by P.L. 342-1987, SEC.2. Amended by P.L. 5-1989, SEC.112; P.L. 10-1992, SEC.29; P.L. 3-1997, SEC.460; P.L. 123-2000, SEC.8; P.L. 113-2010, SEC.126.