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.
Neb. Rev. Stat. § 79-486
New districts; proceeds of sale and funds of old district; how apportioned
Applied in 1 court decision — leading case Jesse v. Box Butte County Board of Equalization (1985)
Most recently applied in Jesse v. Box Butte County Board of Equalization (September 1985)
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, § …
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.