Sec. 61. (a) The legislative body that created a commission under this chapter may:
(1) at any time in the discretion of the legislative body; or
(2) by application of at least fifty-one percent (51%) of the owners of property in the primary area;
dissolve the commission by ordinance or resolution if the legislative body in the discretion of the legislative body determines that the commission has failed to accomplish the purpose for which the commission was created.
(b) If the legislative body dissolves the commission, the preservation area ceases to exist and this chapter does not apply.