7-2-4902. Disincorporation by election. (1) Any city or town may be disincorporated in the manner provided in this section.
(2) If the registered electors of a city or town equal in number to at least 15% of the number of municipal electors registered at the last municipal general election petition the board of county commissioners of the county where the city or town is situated to disincorporate the city or town or if the city governing body by a two-thirds vote of all its members resolves to disincorporate, then the board shall order an election to be held within the city or town on the question of disincorporating the city or town. The election must be conducted in accordance with Title 13, chapter 1, part 4.