California Statutes
§ 35560. — 35560. (Amended by Stats. 2011, Ch. 276, Sec. 1.)
California·Code EDC Education Code - EDC·Div. 3.·Title 2. DIVISION 3. LOCAL ADMINISTRATION·Part 21. PART 21. LOCAL EDUCATIONAL AGENCIES·Ch. 3. CHAPTER 3. Reorganization of School Districts—General Provisions·Art. 7. ARTICLE 7. Disposition of Records, Funds, Property, and Obligations When Reorganized
When a school district is reorganized, both of the following shall apply:
(a)When the allocation of funds, property, and obligations is not fixed by terms, conditions, or recommendations as provided by law, the funds, property, and obligations of a former district, except for bonded indebtedness, shall be allocated as follows:
(1)The real property and personal property and fixtures normally situated thereat shall be the property of the district in which the real property is located.
(2)All other property, funds, and obligations, except bonded indebtedness, shall be divided
pro rata among the districts in which the territory of the former district is included. The basis for the division and allocation shall be the assessed valuation of the part of the former district which is inclu
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California § 35560. (35560. (Amended by Stats. 2011, Ch. 276, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2011, Ch. 276, Sec. 1. (AB 504) Effective January 1, 2012.