Iowa Code § 275.28
Plan of division of assets and liabilities
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2020
As of January 1, 2012
In addition to setting up the territory to comprise the reorganized districts, a reorganization petition may provide for a division of assets and liabilities of the old districts between reorganized districts. If no provision is made in the petition for division of assets and liabilities, or if territory is excluded from the reorganized district by the petition or by the area education agency board of directors, the division shall be made under the provisions of sections 275.29 to 275.31.
In addition to setting up the territory to comprise the reorganized districts, a reorganization petition shall provide for a division of assets and liabilities of the districts affected among the reorganized districts. However, if territory is excluded from the reorganized district by the petition or by the area education agency board of directors, the division of all assets and liabilities shall be made under the provisions of sections 275.29 through 275.31.
93 Acts, ch 160, §8
93 Acts, ch 160, §8; 2015 Acts, ch 93, §2, 8; 2016 Acts, ch 1073, §92
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.