Effective Jan 9, 2008Alaska Register 185(Eff. 7/31/92, Register 123; am 5/19/2002, Register 162; am 1/9/2008, Register 185)
(a) A borough may dissolve using the local option method identified in AS 29.06.450(a)(2) if the voters of the borough file a petition for dissolution under AS 29.06.460 and the commission determines that the borough qualifies for dissolution under AS 29.06.470(a) or AS 29.06.470(b). The commission will deny or accept a petition in accordance with AS 29.06.
(b) In determining whether a borough is free of debt or has satisfied each creditor with a method of repayment under AS 29.06.470, the commission will require an audit performed by an independent certified public accountant identifying all assets and liabilities of the borough.
(Eff. 7/31/92, Register 123; am 5/19/2002, Register 162; am 1/9/2008, Register 185)