249.1109. Combining of original districts after consolidation approved.
146 words·~1 min read·
/mo/chapter-249/249-1109A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
249.1109. Combining of original districts after consolidation approved. — At the time of the effective date of the consolidation, all the property of the original districts shall be combined and administered as one unit, which shall be subject to the liens, liabilities and obligations of the original districts, provided that if any district included in the consolidated district has issued general obligation bonds which are outstanding at the time of the consolidation, any taxes to be levied to pay the bonds and interest thereon shall be levied only upon the property within the original district issuing the bonds as it existed on the date of such issuance.
All special obligation or revenue bonds issued by any district included in the consolidated district shall be paid in accordance with the terms thereof, without preference, from the revenue received by the consolidated district.
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(L. 2001 H.B. 501)