Tennessee Code Title 7. Consolidated Governments and Local Governmental Functions and Entities § 7-84-727

(1) Written petition filed by the owners of either seventy-five percent (75%) of the assessed value of the property in the district, based on the most recent certified city property tax rolls, or fifty percent (50%) of the owners of record within the district;  or

(2) The payment and discharge of all outstanding bonds, notes, or other obligations payable solely from the special assessment revenues levied on the property within the district;  provided, that dissolution must not occur prior to the payment in full and discharge of such debt obligations.