(a) Upon its own initiative or receipt of the request from the district board, both as set forth in § 28-6.1, if the council determines that the public convenience and necessity will be promoted by terminating a district, the council may approve an ordinance terminating the district.
(b) The council shall not approve an ordinance terminating a district, unless:
(1) Provisions are included to assure the payment of all outstanding debt service on any bonds issued to finance improvements within the district from the special assessments or accumulated reserves of the district or as council otherwise deems necessary; and
(2) Provisions are included to assure the payment of all outstanding incidental expenses and supplemental services expenses accrued for the district from the special assessments or accumulated reserves of the district or as council otherwise deems necessary.
(1990 Code, Ch. 36, Art. 6, § 36-6.2) (Added by Ord. 00-13)