2006 Nebraska Revised Statutes - § 79-486 — New districts; proceeds of sale and funds of old district; how apportioned.

Section 79-486
New districts; proceeds of sale and funds of old district; how apportioned.

All money on hand and arising from the sale of schoolhouse and site and all other funds of the divided districts described in section 79-485 shall be divided among the several districts created in whole or part from the divided districts as nearly as practicable in proportion to the taxable valuation of the taxable property attached to the districts formed in whole or in part by such division.

Source:

Laws 1881, c. 78, subdivision I, § 14, p. 335

R.S.1913, § 6713

C.S.1922, § 6251

C.S.1929, § 79-114

R.S.1943, § 79-127

Laws 1949, c. 256, § 54, p. 711

Laws 1979, LB 187, § 223

Laws 1992, LB 719A, § 180

R.S.1943, (1994), § 79-415

Laws 1996, LB 900, § 235

Annotations:

Apportionment of assets of school districts upon partial or complete merger, division, or annexation decided. School Dist. No. 74 of Hall County v. School Dist. of Grand Island, 186 Neb. 728, 186 N.W.2d 485 (1971).

~Reissue Revised Statutes of Nebraska