Section 4-52-14 - Discontinuance of districtsA. Any time after five years from the organization of a district, fifty or more resident electors of a district, or, if less than one hundred resident electors are involved, a majority of the resident electors of the district, may file a petition with the board of county commissioners, praying that the existence of the district be discontinued. The petition shall state reasons for discontinuance and that all obligations of the district have been met. B. After giving notice, as defined in Section 7 [4-52-7 NMSA 1978], the board may conduct such hearings on the petition as may be necessary to assist it in making a determination. C. Within sixty days after petition is filed, a referendum shall be held under supervision of the board. No informalities in the conduct of the referendum shall invalidate it or its results if notice of the referendum has been given substantially as provided in Subsection B of this section. D. If a majority of votes cast in the referendum favor discontinuance of the district and it is found that all obligations have been met, the board shall make a determination that the district shall be discontinued. A copy of the determination shall be certified to the county clerk for recording. E. Any funds remaining after discontinuance shall revert to the county general fund. 1953 Comp., § 15-52-14, enacted by Laws 1959, ch. 194, § 14.