A public transportation benefit area established pursuant to this chapter may be dissolved and its affairs liquidated when so directed by a majority of persons in the benefit area voting on such question. An election placing such question before the voters may be called in the following manner:
(1) By resolution of the public transportation benefit area authority;
(2) By resolution of the county legislative body or bodies with the concurrence therein by resolution of the city council of a component city; or
(3) By petition calling for such election signed by at least ten percent of the qualified voters residing within the area filed with the auditor of the county wherein the largest portion of the public transportation benefit area is located. The auditor shall examine the same and certify to the sufficiency of the signatures thereon: PROVIDED, That to be validated, signatures must have been collected within a ninety day period as designated by the petition sponsors.
Any dissolution of a public transportation benefit area authority shall be carried out in accordance with the procedures in chapter
53.48 RCW. Any remaining deficit of the authority determined pursuant to RCW
53.48.080 shall be paid from the moneys collected from the tax source under which the authority operated.