Dissolution of the district management corporation.
Metropolitan Code of Nashville and Davidson County § 2.179.090
in effect2.179.090 - Dissolution of the district management corporation.
A. The metropolitan council may dissolve the MBID upon receipt of a written petition filed either: (a) by the owners of seventy-five percent of the assessed value of the taxable real property in the MBID based on the most recent certified city property tax rolls; or (b) by fifty percent of the owners of record within the MBID.
B. The MBID may not be dissolved if the metropolitan government has outstanding any bonds, notes, or other obligations payable solely from the special assessment revenues levied on the real property within the MBID in which case such dissolution may occur only at such time as such bonded indebtedness has been repaid in full or the metropolitan government pledges to the payment of such indebtedness its full faith and credit and unlimited taxing power. Upon dissolution of the MBID, any unencumbered assessment proceeds remaining under the control of the MBID shall be disbursed to the owners of the MBID real property pro rata based upon the amounts of the respective assessments.
(Ord. BL2025-1113 § 1, 2025)
Source: Metropolitan Government of Nashville and Davidson County, Metropolitan Code and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/tn/metro_government_of_nashville_and_davidson_county/codes/code_of_ordinances?nodeId=CD_TIT2AD_DIVVOTAGBU_CH2.179MICEBUIMDIMB_2.179.090DIDIMACOFetched: 10/28/2026