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public participation in the conduct of projects and activities or <br /> oppressed or hindered any membership in its exercise of its ' <br /> powers and responsibilities; <br /> 8 . The assets of the public corporation have been or <br /> are committed to be misapplied or wasted, or illegally expended; <br /> or <br /> 9 . The public corporation has committed or is about to <br /> commit a material violation of this ordinance or its charter. <br /> B. The Mayor or City Council may take such actions as <br /> necessary to achieve the object of the intervention stated in the <br /> resolution of the City Council and make corrections or revisons <br /> ancillary thereto, and shall accomplish the purposes of the <br /> intervention as expeditiously as reasonable; corporate officers <br /> shall not be displaced nor the conduct of their duties impaired <br /> more than necessary to accomplish the purposes of the <br /> intervention and the intervention shall cease as soon as the <br /> objectives stated in the resolution and corrections ancillary <br /> thereto have been accomplished. <br /> Section . 450 Trusteeship. <br /> A. The city by resolution of the City Council after a public <br /> hearing held with notice to the public corporation may petition <br /> the Superior Court to impose a trusteeship over a public <br /> corporation organized pursuant to this chapter and to appoint the <br /> trustees therefor under any of the following circumstances : <br /> 1 . The Board of Directors of the public corporation has <br /> requested same by resolution; <br /> 2 . The public corporation has filed a statement of <br /> dissolution prepatory to termination of its existence; <br /> 3 . The public corporation becomes insolvent `_.. <br /> otherwise unable to carry out its contractual obligations to <br /> creditors and other persons; <br /> 4 . The charter was procured through fraud or <br /> misrepresentation of any material matter that has an effect upon <br /> the projects or activities to be undertaken; <br /> 5 . The public corporation has filed an annual report <br /> with the City Clerk that is false or deceptively misleading on a <br /> material matter. <br /> 6 . The public corporation is incompetent or ineligible <br /> to carry out the public purposes for which it was chartered; <br /> 7 . The public corporation has misused, abused, or <br /> continuously exceeded the power or authority conferred by this <br /> chapter or its charter, or committed repeated violations of this <br /> chapter or its charter; or <br /> 8 . The assets of the public corporation have been or <br /> are committed to be misapplied or wasted, or illegally expended, <br /> or a material violation of this chapter has been committed or is <br /> about to be committed, and the City Council determines that <br /> intervention as provided in Section . 440 would not be feasible <br /> under the circumstances . <br /> B. The trustees appointed by the Superior Court shall take <br /> such actions as necessary during the trusteeship to achieve the <br /> object thereof as reasonable. The trustees shall have the power <br /> and authority to reorganize the public corporation and amend its <br /> - 22 - <br />