US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 41
                       SPECIAL DISTRICT DISSOLUTION ACT
    63-4105.  PROPERTY AND FUNDS -- DISPOSITION UPON DISSOLUTION. Title to all
machinery, buildings, lands, and property of every kind and nature, belonging
to a dissolved district shall immediately upon dissolution be vested in the
board of county commissioners as custodians thereof; and thereafter as soon as
may be practical the board shall dispose of the same. If the county and/or any
incorporated cities are to continue providing the services formerly provided
by the dissolved district, then the county commissioners and officials from
such cities shall estimate the value of all such property and said property
shall be transferred to any cities providing services formerly provided by the
dissolved district in direct proportion to the portion of the dissolving
districts' total valuation for the preceding calendar year which is located
within the city or cities, with the remaining portion of the property going to
the county. If the county commissioners and officials from such cities
determine that it is advantageous to dispose of the property at public or
private sale, all funds arising from such sale or sales shall be deposited in
the county treasury in a separate fund, together with other moneys belonging
to such district, to be maintained by the treasurer, and from which debts of
and claims against said districts shall be paid as hereinafter provided. All
funds in the treasury of such district shall be delivered by the treasurer
thereof to the treasurer of such county and deposited in a special fund, and
all moneys thereafter accruing to such districts from collection of taxes and
assessments levied or assessed prior to such dissolution, and all moneys
belonging to such district from any source, shall likewise be placed in such
special fund. Following the payment of debts and claims against such district,
any moneys remaining in such special fund shall be distributed to any
incorporated cities located within the boundaries of such district which are
providing services formerly provided by such district in proportion to the
portion of the total valuation of such district which is located within such
cities. All remaining moneys after distribution to such cities shall be
transferred to the current expense fund of the county.
    If such district is located in more than one (1) county, then all
authority vested in the county commissioners under this section shall be
vested jointly in the several commissioners; provided, however, that any
special fund established for the deposit of moneys accruing to such district
shall be established in the treasury of the county which contains the greatest
portion of the preceding year's valuation of the dissolved district and any
property or moneys to be transferred to a county current expense fund shall be
distributed to the counties in proportion to the portion of the valuation of
the district which is located within each county but not including the
valuation of any incorporated city which is providing services formerly
provided by such district.