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charter and/or its rules and regulations; suspend and/or remove. <br /> corporate officials , and manage the assets and affairs of the <br /> public corporation; and exercise any and all corporate powers as <br /> necessary or appropriate to fulfill outstanding agreements , to <br /> restore the capability of the public corporation to perform the <br /> functions and activities for which it was chartered, to reinstate <br /> its credit or credibility with its creditors or obligees; and, if <br /> so authorized by the Superior Court, to oversee its dissolution. <br /> Section . 460 Termination. <br /> The existence of the public corporation may be terminated by <br /> resolution of the City Council at or after a public hearing, held <br /> with notice to the public corporation and affording it a <br /> reasonable opportunity to be heard and present evidence, under <br /> any of the following circumstances : <br /> A. The Board of Directors of the public corporation has <br /> requested the same by resolution; <br /> B. The public corporation has discontinued its projects and <br /> activities for which chartered or remained inactive for a period <br /> of six months in succession; <br /> C. A judgment of a court of competent jurisdiction shall <br /> have become final , which judgment annuls the existence of the <br /> public corporation, or prohibits it from conducting all or the <br /> major portion of the activities for which chartered or permits <br /> recourse by creditors of the public corporation or other persons <br /> to the assets , property or credit of the city on account of any <br /> debts , obligations or liabilities of the public corporation; <br /> D. Any one or more of the circumstances for imposition of a <br /> trusteeship stated in Section . 450 A3 through A8 inclusive, <br /> together with an affirmative finding by the City Council that a <br /> trusteeship would not be feasible under the circumstances or <br /> could not attain its objective; and that termination is <br /> warranted; <br /> E. Repeal of enabling legislation authorizing public <br /> corporations , or amendment thereof or supplementary legislation <br /> thereto which singularly or cumulatively restricts all or the <br /> major portion. of the activities for which the public corporation <br /> was chartered, or permits recourse by creditors of the public <br /> corporation or other persons to the assets, property or credit of <br /> the city on account of any debts, obligations , or liabilities of <br /> such public corporation; or <br /> F. Continuous trusteeship of the public corporation for one <br /> year, or the imposition of a trusteeship for whatever cause (s) <br /> three times in any one-year period. <br /> Subject to any limitations that may be imposed by the judgment of <br /> a court of competent jurisdiction, provision shall be made in any <br /> termination of the public corporation' s existence for causes <br /> designated in this section for payment of any obligations , bonds , <br /> notes or other contracts of indebtedness from the rights and <br /> assets of the public corporation so that such bonds and contracts <br /> be not impaired. <br /> - 23 - <br />