72-8707. Bonded indebtedness assumed, unless otherwise agreed. - Kansas Statutes

72-8707

Chapter 72.--SCHOOLS Article 87.--CONSOLIDATION OF SCHOOL DISTRICTS

      72-8707.   Bonded indebtedness assumed, unless otherwise agreed.Upon the consolidation of school districts the consolidated unifiedschool district shall assume and agree to pay all of the bondedindebtedness of the former school districts of which it is comprised,unless the agreement to consolidate provides otherwise as hereinafterprovided. Any consolidation agreement entered into under authority of thisact may provide that in lieu of the consolidated unified school districtassuming the bonded indebtedness of the school districts beingdisorganized, such bonded indebtedness shall remain a charge upon theterritory of the school districts being disorganized. If such agreementprovides for bonded indebtedness to remain a charge upon the territory ofthe school districts being disorganized, the provisions of K.S.A. 10-119shall apply with the date of the disorganization of such school districtsbeing the date to be used in making such application.

      History:   L. 1969, ch. 336, § 7; April 25.