72-8708. Transfer of assets to new school district; debt liability.
72-8708
72-8708. Transfer of assets to new school district; debt liability. The assets of the school districts being consolidated shall betransferred to the consolidated unified school district on a day agreedupon in the consolidation agreement but not sooner than the first day ofthe first month after the election approving such consolidation. Theproperty, records and all funds on hand and to be collected of each of theschool districts being consolidated shall be turned over and paid to theconsolidated unified school district and shall become the property of theconsolidated unified school district, and the consolidated unified schooldistrict shall thereupon be entitled to possession thereof. Theconsolidated unified school district shall thereupon become liable for andpay all lawful debts of the school districts which were consolidated exceptas may be otherwise provided by the consolidation agreement for bondedindebtedness. It shall be the duty of all county officers and officers ofthe school districts being consolidated to transfer the funds (includingstate foundation finance funds and funds collected from state aid, taxes,interests, and penalties subsequent to such consolidation), records andproperty of the school districts being consolidated in accordance with theprovisions of this section and the consolidation agreement. Any countytreasurer or school district officer or former officer having in hispossession any property, records or funds of any of the school districtsbeing consolidated who shall fail or refuse to turn over such property,records or funds to the consolidated unified school district shall beordered to do so by the state board.
History: L. 1969, ch. 336, § 8; April 25.