15-395.01 - Arizona Statutes

15-395.01. Reducing the size of a joint district A. To withdraw a school district from a joint district, the governing boards of a majority of the school districts participating in the joint district shall approve by a majority vote the withdrawal of the district. If a majority of the governing boards approve the withdrawal, the joint board shall consider the withdrawal, and to approve the withdrawal the proposed withdrawal must receive the affirmative vote of a majority of the members of the board. If the joint board approves, the question of the withdrawal from the joint district shall be submitted to the qualified electors of the school district seeking to withdraw from the joint district at the next general election. B. If the withdrawal of a school district is approved as prescribed in subsection A of this section, the qualifying tax rate shall remain in effect for the remainder of the current tax year. C. The school district withdrawn pursuant to this section shall not be entitled to ownership of any assets held by the joint district. D. If a joint district from which a school district withdraws pursuant to this section has outstanding bonded indebtedness, the debt shall continue to be levied upon taxable property for all bonds issued prior to the withdrawal of the school district in the same manner as was levied and collected prior to the withdrawal of the school district.