(1)
(A) Failure to elect a mayor or legislative body, or both, for more than one (1) year after the time fixed for such elections; and
(B) Failure to levy and collect any municipal ad valorem property taxes for a period of three (3) successive years; and
(C) Failure to expend any funds for municipal purposes or adopt a budget for municipal expenditures for a period of three (3) successive years; or
(2) Failure to hold any municipal elections for more than twenty (20) years.
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