20-6-414. Cash disposition when districts consolidated. Whenever two or more districts are consolidated without the mutual assumption of bonded indebtedness, all cash and debts, other than cash credited to the debt service fund and debts for bonded indebtedness, must be credited or debited to the same types of funds of the consolidated district as the funds from which they were transferred by the county treasurer. In addition, when two or more districts are consolidated with the mutual assumption of bonded indebtedness, the cash credited to the debt service fund and the bonded indebtedness also must be transferred to a similar fund of the consolidated district.
History: En. 75-6533 by Sec. 192, Ch. 5, L. 1971; R.C.M. 1947, 75-6533; amd. Sec. 3, Ch. 60, L. 2009.
Structure Montana Code Annotated
Part 4. School District Reorganization
20-6-410. Tenure protected -- hiring preference for employees
20-6-411. Bonded indebtedness to remain with original territory except when assumed by election
20-6-412. Property tax valuation after district boundary change
20-6-413. Cash disposition when district ceases to exist -- special levy for tuition debt
20-6-414. Cash disposition when districts consolidated
20-6-416. No cash disposition when territory transferred
20-6-417. Property disposition when district boundaries changed
20-6-418. Surrender of records when district ceases to exist
20-6-419. and 20-6-420 reserved
20-6-421. Conditions for district annexation