Proceeding to disestablish the district shall be initiated by the City Council following the presentation of a petition to the City Council signed by district business owners paying fifty percent (50%) or more of the total assessments levied in the last four completed fiscal quarters. Proceedings to disestablish the district shall follow the procedures set forth in the Act. The City Council shall disestablish the district if, following the public hearing prescribed in Section 36550(b), written protests are not withdrawn as to reduce the protests below the fifty percent (50%) level. In the event of disestablishment of the district, there may be surplus funds remaining. It would be difficult to return the funds to the individual guests who had paid the assessment. Consequently, the surplus funds, if any, are to be donated to bona fide charitable, educational, civic, religious or similar tax-exempt, nonprofit organization(s). The designation of recipient organization(s) and the amount to be donated will be at the discretion of the advisory board.
(Ord. 1797 § 1, 12-14-2004)