What is the difference between Finalize and Dispose (Garbage collection) ?

Please also see my comments to Solutions 1 and 2. You also need to understand how System.IDisposable.Disposed is used with the using statement (don't mix up with using clause):

http://msdn.microsoft.com/en-us/library/yh598w02%28v=vs.80%29.aspx[^].

For some use of System.IDisposable.Disposed beyond reclaiming of resources, please see my article: Hourglass Mouse Cursor Always Changes Back to its Original Image. How?[^].

—SA

Finalize () is called by Garbage Collector implicitly to free unmanaged resources. The garbage collector calls this method at some point after there are no longer valid references to the object. There are some resources like windows handles, database connections which cannot be collected by the garbage collector. Therefore the programmer needs to call Dispose() method of IDisposable interface.
Dispose () of IDisposable interface is called by the programmer to explicitly release resources when they are no longer being used. Dispose () can be called even if other references to the object are alive.

For more detail with example, refer below link:
http://www.dotnetobject.com/expage.php?exurl=http://msdn.microsoft.com/en-us/library/b1yfkh5e%28VS.80%29.aspx[^]

The finalizer method is called when your object is garbage collected and you have no guarantee when this will happen (you can force it, but it will hurt performance).

The Dispose method on the other hand is meant to be called by the code that created your class so that you can clean up and release any resources you have acquired (unmanaged data, database connections, file handles, etc) the moment the code is done with your object.