2007 California Education Code Article 3. Disposition Of Records, Funds, Property, And Obligations When Reorganized

CA Codes (edc:74280-74284)

74280.  The agreement of transfer required by Section 74107 shall
provide for  the allocation of funds, property, and obligations
affected by the transfer, except for bonded indebtedness.  The
following procedure may be used to determine such allocation:
   (a) The real property and personal property and fixtures normally
situated thereat shall be the property of the district in which the
real property is located.
   (b) All other property, funds, and obligations, except bonded
indebtedness, shall be divided pro rata among the districts in which
the territory of the former district is included.  The basis for the
division and allocation shall be the assessed valuation of the part
of the former district which is included within each of the
districts.


74281.  If a dispute arises between the governing boards of the
districts concerning the division of funds, property, or obligations,
a board of arbitrators shall be appointed which shall resolve the
dispute.  The board shall consist of one person selected by the
district from which the territory is withdrawn, one person selected
by the district of which it has become a part, and a third person
appointed by the county superintendent of schools having
jurisdiction.  If more  than one county superintendent of schools has
jurisdiction over the affected districts, county superintendents
involved shall jointly appoint an arbitrator.  The districts involved
may mutually agree that the person appointed as arbitrator by the
county superintendent of schools may act as sole arbitrator of the
matters to be submitted to arbitration.  The necessary expenses and
compensation of the arbitrators shall be divided equally between the
districts, and the payment of the portion of the expenses is a legal
charge against the funds of the school districts.  The arbitrator or
arbitrators shall make a written finding on the matter submitted to
arbitration.  The written finding and determination of a majority of
the board of arbitrators is final and binding upon the districts
submitting the question to the board of arbitration.



74284.  Notwithstanding any provisions of this article, exchanges of
property  tax revenues between districts as a result of
reorganization shall be determined pursuant to subdivision (h) of
Section 99 of the Revenue and Taxation Code.