1. Upon receipt from the Commission of a certification that the Commission has determined that the continued operation of the district is not administratively practicable and feasible, pursuant to the provisions of NRS 548.535 , the supervisors shall forthwith proceed to terminate the affairs of the district. 2. The supervisors shall dispose of all property belonging to the district at public auction and shall pay over the proceeds of the sale to the State Treasurer for deposit in the State Treasury. 3. The supervisors shall thereupon file an application with the Program for the discontinuance of the district, and shall transmit with the application the certificate of the Commission setting forth the determination of the Commission that the continued operation of the district is not administratively practicable and feasible. The application must recite that the property of the district has been disposed of and the proceeds paid over as provided in this section, and must set forth a full accounting of those properties and proceeds of the sale. 4. The Program shall issue to the supervisors a certificate of dissolution and shall record the certificate in an appropriate book of records.
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