§ 58-02-16 — Determination of net assets of township to which territory is annexed and of annexed territory

annexed territory.
At the meeting described in section 58-02-14, the members of the boards of township
supervisors and the township clerks there present shall determine the value of the townhall and
of all other property owned and used by the township to which the new territory has been
annexed and the value of the property of the township or fraction of a township which has been
annexed thereto, and shall compute the amount of moneys in the township treasury and of
moneys due to the township to which the new territory has been annexed and to the township or
fraction of a township annexed thereto, from the county and from other sources, and the amount
of back or unpaid taxes due to the township to which the new territory has been annexed and
due to and receivable by the township or fraction of a township annexed thereto, to determine
the gross assets of the territories involved. They shall compute the amount of all bonds and
debts which constitute the legal liabilities of the township to which the territory is annexed, and
the difference between the gross assets and the liabilities constitutes the net assets or the net
liabilities of such township for use in determining the pro rata amount, if any, due from the
annexed territory.