18A:51-12 - Withdrawal of districts from, and dissolution of, audiovisual aids center - New Jersey Statutes

18A:51-12.  Withdrawal of districts from, and dissolution of, audiovisual aids center
    Any board of education of any participating school district may withdraw as  a participating district pursuant to resolution duly adopted by said board and  notice of intention to withdraw given to the secretary of the commission on or  before August 1 in any year and in event that all participating boards of  education, or all of said participating boards of education except one, shall  determine to withdraw from any such county educational audiovisual center, the  same shall be dissolved and the property of such center shall be disposed of at  a public or private sale and one half of the amount realized therefrom,  together with one half of any unexpended balances remaining in the treasury of  such center, shall be paid to the state treasurer to be devoted to the  maintenance and support of the public schools and the remainder thereof shall  be apportioned among the board of education participating in said center at the  time of its dissolution on the basis of the total average daily enrollment of  the pupils of said district ascertained as hereinbefore provided.
 
L.1967, c.271.