§ 57. Dissolution of authorities. An authority or the municipality
may apply to the supreme court in any county in which the municipality
or any part thereof is located, for an order dissolving the authority.
The court thereupon shall hold a hearing in open court after such notice
of hearing as the court may require. Upon a showing to the satisfaction
of the court that provision has been made for the payment or
satisfaction of all of the outstanding obligations of the authority and
for the necessary expenses for the liquidation thereof, the court may
order that the authority be dissolved. Upon such dissolution the
property of the authority shall be and become the property of the
municipality.