Section 57. Dissolution of authorities

An authority or the municipality
  may apply to the supreme court in any county in which  the  municipality
  or  any  part thereof is located, for an order dissolving the authority.
  The court thereupon shall hold a hearing in open court after such notice
  of hearing as the court may require.  Upon a showing to the satisfaction
  of  the  court  that  provision  has  been  made  for  the  payment   or
  satisfaction  of all of the outstanding obligations of the authority and
  for the necessary expenses for the liquidation thereof,  the  court  may
  order  that  the  authority  be  dissolved.  Upon  such  dissolution the
  property of the authority shall  be  and  become  the  property  of  the
  municipality.