(a)  At any time after the downtown center special services district has been established pursuant to the provisions of this chapter, the district may be dissolved in any one of the following ways:

(1)  By the adoption of an ordinance repealing the ordinance establishing the downtown center special services district; or

(2)  If the district is not divided into subdistricts pursuant to § 45-56-6(b) and if the ordinance establishing the district does not create different land use categories pursuant to § 45-56-6(c), by the holding of a referendum by the board of commissioners of the district among all the holders of record of taxable interests in real property within the district on the question of whether the district shall be dissolved, provided a majority of those holders responds affirmatively or provided the holders of taxable interests in real property, the assessments of which constitute more than one-half (½) of the total of all assessments for all taxable interests in real property within the district, respond affirmatively; or

(3)  If the district is divided into subdistricts pursuant to § 45-56-6(b), and if the ordinance establishing the district does not create different land use categories pursuant to § 45-56-6(c)(1), by the holding by the board of commissioners of the district of a separate referendum among all the holders of record of taxable interests in the real property within each subdistrict on the question of whether the district shall be dissolved, provided a majority of those holders in a subdistrict responds affirmatively or provided the holders of taxable interests in real property within a subdistrict, the assessments of which constitute more than one-half (½) of the total of assessments for all taxable interests in the real property within the subdistrict, respond affirmatively; or

(4)  If the district is not divided into subdistricts pursuant to § 45-56-6(b) and if the ordinance establishing the district creates different categories of land use within the district pursuant to § 45-56-6(c)(1), a separate referendum is held among all the holders of record of taxable interests in the real property in each land use category in the district on the question of whether the district shall be dissolved, and unless a majority of holders in a land use category responds affirmatively and unless the holders of taxable interests in real property in a land use category, the assessment of which constitute more than one-half (½) of the total of assessments for all taxable interests in real property in the land use category within the district, respond affirmatively; or

(5)  If the district is divided into subdistricts pursuant to § 45-56-6(b) and if the ordinance establishing the district creates different categories of land use within the district pursuant to § 45-56-6(c)(1), a separate referendum is held among all the holders of taxable interests in real property in each land use category in each subdistrict on the question of whether the district shall be dissolved, and unless a majority of holders in a land use category in a subdistrict responds affirmatively or unless the holders of taxable interests in real property in a land use category in a subdistrict, the assessments of which constitute more than one-half (½) of the total of assessments for all taxable interests within the land use category within the subdistrict, respond affirmatively.

(6)  At any referendum held under this section, all residents of the town of Westerly, residing in the town and qualified voters, and who reside in the district or subdistrict as the case may be, have the right to vote and the referendum shall not take effect unless a majority of all voters respond affirmatively.

(b)  The board of commissioners of the downtown center special services district in question shall determine the manner in which any referendum held pursuant to subsections (a)(2) — (a)(5) shall be conducted. A referendum may be conducted by mail.

(c)  If the downtown center special services district is dissolved pursuant to subsection (a), the board of commissioners of the district shall proceed to wind up the affairs of the district as of the end of the then current fiscal year of the district. If, after the dissolution of a downtown center special services district, the district has liabilities, whether fixed or contingent, the legislative body of the municipality in which the district was located has the authority to impose, in addition to the regular municipal levy, a levy on the real property within the district, in the same manner as is provided for the determination of the levy by the board of commissioners of the district in the ordinance establishing the district, for as many years as the liabilities remain outstanding, and the levy shall be calculated to produce enough revenue to satisfy and release the liabilities as they become due, and the revenues shall be deposited into the general fund of the municipality and shall be utilized by the municipality, at the direction of its chief executive officer, solely for the purposes stated in this section. If, after the dissolution of the downtown center special services district, the district has assets which remain following the winding up of the affairs of the downtown center special services district, the assets shall be transferred to the municipality within which the district was located.