§ 22-30-123 — Status of old school district - assets

Colorado § 22-30-123

• Jurisdiction: Colorado
• Title 22: Education
• Art.: School District Organization

Text

(1) When a portion of the
territory of a school district is included within a new school district organized under
the provisions of this article, such portion of the territory of the old school district
shall be detached by operation of law when the new school district becomes a body
corporate, and it shall become territory of the new school district. When all of the
territory of an old school district is included within a new school district or school
districts, if the eligible electors of more than one proposed new school district
simultaneously adopt the plans of organization, the corporate status of the old
school district or school districts shall be dissolved by operation of law when said
new school district becomes a body corporate.

(2) Unless otherwise provided in the plan of organization, when a new school
district formed under this article embraces all of the territory of an old school
district, all of the assets of the old school district, including all personal and real
property, except moneys then on hand or to be received from previously made tax
levies for the satisfaction of bonded indebtedness, shall become the property of the
new school district. The board of education of the successor new school district as
designated in the plan of organization shall have all rights, powers, and duties for
administering payment of said outstanding bonded indebtedness obligations in
accordance with section 22-30-114 (2).

(3) Unless otherwise provided in the plan of organization, when only a portion
of the territory of a school district is included within a new school district organized
under the provisions of this article, or when all of the territory of an old school
district is included in more than one new school district organized simultaneously,
all of the assets of the old school district shall be apportioned between the old
school district and the new school district, or between the two or more new school
districts, if applicable, in the manner prescribed in subsection (4) of this section. If
the corporate status of the old school district is not dissolved as a result of the
organization of the new school district, the board of education of the old school
district shall continue to perform duties and exercise powers delegated concerning
the administering of the payment of its previously incurred bonded indebtedness,
even though such territory is detached, except insofar as a new school district has
voted to assume a proportionate share of said bonded indebtedness in the manner
authorized by law. If the corporate status of the old school district is dissolved as a
result of it having been wholly included within a new school district or school
districts as specified in subsection (1) of this section, the board of education of the
new school district shall perform the duties and exercise the powers delegated for
administering payment of such bonded indebtedness with due regard to any
proportionate share thereof which may have been assumed by a new school district
in the manner authorized by law.

(4) Unless otherwise provided in the plan of organization, when the
conditions prescribed in subsection (3) of this section occur, all of the assets of the
old school district, including all personal and real properties except moneys then on
hand or to be received from previously made tax levies for the satisfaction of
bonded indebtedness, shall be apportioned between the old school district and the
new school district or school districts or between the two or more new school
districts, if applicable, as follows:

(a) All real property shall remain or become the property of the old school
district or new school district in which located.

(b) All personal property, except cash assets, but including moneys then on
hand or to be received from previously made tax levies for the satisfaction of
bonded indebtedness, shall remain or become the property of the old school district
or new school district in which located.

(c) All cash assets, except moneys then on hand or to be received from
previously made tax levies for the satisfaction of bonded indebtedness, shall be
apportioned between the old school district and the new school district or between
the two or more new school districts, if applicable, on the basis of the most recent
annual report of school enrollment of each such old school district. The
apportionment of moneys under this paragraph (c) shall be made by the county
treasurer, under the direction of the commissioner and in accordance with the
provisions of the plan of organization, monthly as the moneys become available. If
there are any unpaid school district taxes on the date upon which the new school
district becomes a body corporate other than taxes levied for the satisfaction of
bonded indebtedness, the county treasurer, under the direction of the
commissioner and in accordance with the provisions of the plan of organization,
shall apportion the revenues from such unpaid taxes monthly, when such revenues
accrue after the new school district has become a body corporate, between the old
school district and the new school district or school districts, or between the two or
more new school districts, if applicable, in accordance with the location of the
property from which such tax revenues shall accrue.

(5) (a) In the event only one new school district embraces all of the territory
of an old school district, the new school district shall assume all of the outstanding
obligations and liabilities of the dissolved school district, except those for
previously incurred bonded indebtedness; but bonded indebtedness incurred by the
former school district may be assumed by the new school district as provided in
section 22-30-125.

(b) When the old school district remains in existence, even though a portion
of the territory has been incorporated within a new school district, previously
incurred bonded indebtedness of such old school district shall be paid as provided
in sections 22-30-124 and 22-42-122; and, except when the plan of organization
provides otherwise, the school district from which the territory was removed shall
remain liable for all other previously incurred liabilities and obligations.

(c) Unless otherwise provided in the plan of organization, when two or more
new school districts organized simultaneously shall include all of the territory of an
old school district, each new school district shall be jointly and severally liable for
all of the outstanding liabilities and obligations of the dissolved school district,
except those outstanding obligations and liabilities previously incurred for bonded
indebtedness; but a proportionate share of the previously incurred bonded
indebtedness may be assumed as provided in section 22-30-125.

(6) If, upon the effective date of the organization of a new school district, as
specified in section 22-30-120, a school district included in a plan of organization
has a warrant indebtedness or outstanding liability, other than bonded
indebtedness, in excess of the equivalent of one-half mill on its valuation for
assessment, then the board of education of any successor school district is
authorized to levy a special tax, not to exceed one mill, against the taxable property
of the old school district, the revenue from which shall be applied to the retirement
of the warrant indebtedness or outstanding liabilities of such school district. When
they are retired, the levy shall be discontinued. The procedures to be followed
under the provisions of this subsection (6) shall be the same as provided in this title
for the retirement of bonded indebtedness.

Legislative History

Source: L. 92: Entire article R&RE, p. 506, � 1, effective June 1.