§ 21-6-216 — Newly organized school district a body corporate; authority of trustees; old districts to cease to exist

(a) On the effective date of the proposal, each proposed
newly organized school district shall be and become a body
corporate under the name and number as indicated in the proposal
as a school district, and the new board of trustees shall have
full authority and power to act as the board of trustees to do
all things necessary with reference to the business and
educational affairs of the new school district using the funds
on hand or the funds received through existing levies of the old
districts as nearly as practicable for the balance of the fiscal
year.
(b) When members of the board of trustees of the new
school district assume their duties as provided in this article
on the effective date of the proposal each of the old districts
or portions of districts from which the new district was formed
shall cease to exist as a legal entity and the board of trustees
of each former district or districts situated within the new
district shall cease to function and the terms of office of the
members thereof shall automatically expire.