SEC. 41. Exclusion of a Territory. — Any
territory within the boundary of a district may be excluded by
resolution of the board of directors after notice to land owners within
the territory proposed to be excluded, and upon a finding that said
lands do not and will not benefit by reason of their inclusion within
the district. A certified copy of said resolution of exclusion shall be
filed in the same manner and become effective in accordance with the
provisions applicable to the resolution forming the district.
SEC. 42. Annexations and Deannexation. — The
Administration may, after notice to property owners within the territory
proposed for annexation or deannexation and following a hearing, make
findings of benefit or potential benefit, and thereafter, require
annexation or deannexation shall be accomplished by adoption and filing
of an appropriate resolution in the same manner as the filing of the
resolution forming a district or of exclusion, as the case may be.
SEC. 43. Consolidation and Joint Operation. —
The Administration may require the merger or consolidation of the
facilities or operations of two or more districts formed pursuant to the
levy, in the event that the Administration shall have determined,
following a hearing, that such merger or consolidation is in the best
interest of the residents in the districts involved.
SEC. 44. Dissolution, — A district may be
dissolved by resolution of its board of directors filed in the manner of
filing the resolution forming the district: Provided, however,
That the following procedures have bee-n accomplished prior to the
adoption of any such resolution: (1) another public entity has acquired
the assets of the district and has assumed all obligations and
liabilities attached thereto; (2) all bondholders have been notified and
they consent to said transfer and dissolution; and (3) a court of
competent jurisdiction has found that said transfer and dissolution are
in the best interest of the public.
