(A) Proceeding to disestablish the district shall be initiated by the City Council following the presentation of a petition to the City Council signed by business owners paying 50% or more of the benefit fees levied in the district. Proceedings to disestablish the district shall follow the procedures set forth in Cal. Gov't. Code § 36550. The City Council shall disestablish the district if, following the public hearing prescribed in § 36550 (b), written protests are not withdrawn as to reduce the protests below the 50% level.
(B) In the event of disestablishment of the district, remaining revenues of the district shall be refunded to paying business owners in a pro-rata manner calculated in the same manner as was used to establish the most recent fees applied in the district.
(Ord. 1218, passed 10-1-97)