§ 22-30-125 — Election on assuming the existing bonded indebtedness

(1)
The committee may submit the issue of assuming the bonded indebtedness of any
school district, or of any portion thereof, existing at the time of inclusion in the
proposed new school district or proposed to be included in a detachment and
annexation to the eligible electors of such new or annexing school district. If the
committee so decides, the question shall be submitted at the special school district
organization election.

(2) (a) The election shall be held pursuant to the provisions of section 22-30-104. The outstanding bonded indebtedness incurred by more than one school
district, or the proportionate shares thereof, may be assumed simultaneously by a
new school district under the provisions of this section through the submission of a
single ballot, but voting on separate amounts or alternative voting on one ballot
shall be prohibited.

(b) If one or more whole school districts have been included in a new school
district, the ballot shall contain a statement of the amount or amounts of
outstanding bonded indebtedness proposed to be assumed by the new school
district.

(c) If only a portion of the territory of an old school district has been included
in a new school district, the ballot shall contain a statement of the proportionate
share of the outstanding bonded indebtedness incurred by said old school district
to be assumed by the new school district as set forth in the plan of organization.

(d) If printed ballots are used, the ballot shall be printed or typewritten and
shall contain the words official ballot, below which shall be set forth the amount
of outstanding bonded indebtedness to be assumed, or that a proportional share of
such amount is proposed to be assumed, as the case may be, by the new or
annexing school district, the name and number of each old school district that
incurred said bonded indebtedness, and, if the ballot contains more than one
amount to be assumed, the total of such amounts.

(3) If a majority of the eligible electors voting on the proposed question vote
for the assumption of the bonded indebtedness, the public officials shall perform
the duties set forth in sections 22-42-117 to 22-42-121 that are necessary to assure
that the assumed bonded indebtedness is paid in the manner provided by law for
the paying of any bonded indebtedness that the new or annexing school district
contracts.

Legislative History

Source: L. 92: Entire article R&RE, p. 511, � 1, effective June 1. L. 94: (2)(c) amended, p. 1278, � 3, effective May 22. L. 96: (1), (2)(d), and (3) amended, p. 59, � 15, effective July 1.