At the time fixed for the hearing on the resolution of intention to dissolve the maintenance benefit area, or at any time to which it is adjourned, the city council shall hear and pass upon the question of dissolution and all objections and protests and may grant or deny same, and its decision thereon shall be final and conclusive. When the hearing has been initiated by the filing of a petition purporting to be signed by the owner or owners of property within the maintenance benefit area sufficient to constitute a majority protest, the maintenance benefit area shall be dissolved if the city council determines that said petition constitutes a majority protest to the continuation of the maintenance benefit area, unless the city council determines to continue the maintenance benefit area by an affirmative vote of four-fifths of the members of the city council. In all other cases, the city council may, in its sole discretion, determine to continue or to dissolve the maintenance benefit area. (Prior code § 55.06.603)