Upon the effective date of a merger, all of the moneys or funds, including cash on hand and moneys due but uncollected and all property, real or personal, of the merged district is vested in the city.
Cal. Gov. Code § 57526
Mergers and the Establishment of Subsidiary Districts
Known as the Cortese-Knox-Hertzberg Local Government Reorganization Act
The act spans §§ 56000–57550 (507 sections).
Added by Stats. 1985, Ch. 541, Sec. 3
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.