The governing body of the county or a municipal corporation in the county in which a district is established under this subtitle shall: review the effectiveness and desirability of continuing the district every 3 years from the time the district is authorized by local law under § 12–604 of this subtitle; and develop policies and procedures for evaluating the desirability of continuing the district if requested by members of the district. If the continuing existence of the district is not approved by the governing body: the district shall cease to exist as directed by the governing body; and the district corporation shall continue its existence only as long as necessary to terminate operation in a reasonable manner.