A board may petition a creating body to dissolve the development zone under Section 386.301 if a majority of the board finds at any time:
(1) before the authorization of bonds or the final lending of its credit that the continuation of the development zone is impracticable or cannot be successfully and beneficially accomplished; or
(2) that all bonds of the development zone or other debts of the zone have been paid and the purposes of the zone have been accomplished.