160.065 Liability for indebtedness in case of annexation. - Kentucky Statutes

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160.065 Liability for indebtedness in case of annexation. When any property assessable for school purposes in one school district is annexed by or
transferred to another school district, the recipient district shall assume a part of the
indebtedness, if any, of the other school district incurred for school buildings and grounds
in the proportion the assessed valuation of property taxable for school purposes
transferred bears to the total assessed valuation of property taxable for school purposes in
the district losing the territory. Effective: July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 421, effective July 13, 1990. -- Created 1942 Ky. Acts ch. 197, sec. 1.