The authority of the City to exercise the statutory powers set forth in Chapter 36.73 RCW and this chapter shall expire, when all indebtedness, if any, accrued pursuant to that authority has been retired and when all of the anticipated responsibilities of the Transportation Benefit District have been satisfied. This authority shall automatically expire on 12:01 a.m. on July 16, 2032*, unless dissolved sooner pursuant to this section. [Ord. 656 § 2, 2016; Ord. 550 § 2, 2012.]