79-422. Change in boundary lines; affiliation; bonded indebtedness; treatment.

(1) Bonded indebtedness approved by legal voters prior to any change in school district boundary lines pursuant to sections 79-413 to 79-421 shall remain the obligation of the school district voting such bonds unless otherwise specified in the petitions. When a district is dissolved by petitions and the area is attached to two or more districts, the petitions shall specify the disposition of assets and unbonded obligations of the original district.

(2) Bonded indebtedness approved by legal voters for high school facilities prior to the establishment of an affiliation shall remain the obligation of the high school district unless otherwise specified in the petitions.

Source:Laws 1971, LB 468, § 10; Laws 1990, LB 259, § 11; Laws 1993, LB 348, § 13; R.S.1943, (1994), § 79-402.11; Laws 1996, LB 900, § 171; Laws 2005, LB 126, § 22; Referendum 2006, No. 422.