2006 New York Code - Indebtedness Of Certain Dissolved Districts.

 
    § 1517. Indebtedness  of  certain  dissolved districts.   Whenever any
  school district is dissolved  pursuant  to  the  provisions  of  section
  fifteen  hundred  five  of  this  article  and  annexed  to an adjoining
  district or adjoining districts or consolidated as provided  in  section
  fifteen  hundred twelve, the indebtedness of any such district evidenced
  by bonds or notes or relating  to  school  building  construction  shall
  thereupon  become  a  charge  upon  the enlarged district formed by such
  annexation or consolidation.  The board of education or trustees of such
  enlarged district shall raise by tax an amount  sufficient  to  pay  any
  such indebtedness of such district as the same shall become due.