Upon dissolution the right, title and interest to property owned or controlled by the district shall be divided among the cities within the district and the county according to the ratio which the assessed valuation of taxable property of each city within the district and the unincorporated area within the district bears to the total assessed valuation of taxable property within the district.
Cal. Pub. Util. Code § 98406
Dissolution
Known as the Santa Cruz Metropolitan Transit District Act
The act spans §§ 98000–98407 (206 sections).
Added by Stats. 1967, Ch. 978.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.