A. All contracts entered into by a local school board of a school district prior to consolidation shall be honored by the consolidated school district. The acquiring of tenure rights and tenure rights that have been obtained shall not be affected by consolidation.
B. Any outstanding school district bonds or other indebtedness of a school district shall not be affected by consolidation. Whenever a school district included within a consolidation has outstanding school district bonds or certificates of indebtedness, the school district shall retain its identity for the purpose of paying any debt service until the bonds or certificates are paid in full. No school district included within a consolidation shall become responsible for the debt service of any other school district included within the consolidation.
History: 1953 Comp., § 77-3-13, enacted by Laws 1967, ch. 16, § 26.
Structure New Mexico Statutes
Article 4 - Creation, Consolidation and Annexation
Section 22-4-1 - School districts.
Section 22-4-2 - New school districts; creation.
Section 22-4-3 - Consolidation; request; districts without junior or senior high schools; standards.
Section 22-4-4 - [Consolidation of district without junior or senior high schools; governing board.]
Section 22-4-5 - Alternate method of consolidation.
Section 22-4-6 - Alternate method; survey; report; submission to the state board [department].
Section 22-4-7 - Alternate method; survey committee.
Section 22-4-8 - Alternate method; survey committee; compensation.
Section 22-4-9 - Alternate method; standards for consolidation.
Section 22-4-10 - Order of state board [department].
Section 22-4-11 - [Publication of order; actions attacking order.]
Section 22-4-12 - Interim local school board; special election.
Section 22-4-13 - Special school district election; term of office.
Section 22-4-14 - Regular school district election; term of office.
Section 22-4-15 - Consolidated school districts; outstanding contracts; indebtedness.
Section 22-4-16 - [Existing school districts validated.]
Section 22-4-17 - Annexation of area for school district purposes; resolutions; approval; filing.