15-1032. Capital facilities; bonded
indebtedness liability for unified school districts
A. All school buildings of established school districts which are located within
any unified school district shall, together with all equipment and furnishings, become
the property of the unified school district.
B. If any established common school district or high school district has a bonded
indebtedness liability, the liability or so much of it as is attributable to facilities
located within the boundaries of any unified school district shall become an assumed
indebtedness liability of the unified school district. The unified school district
governing board shall levy a tax against the property of the unified school district for
the payment of the principal and interest, but nothing in this section shall be construed
to relieve the taxable property in the theretofore existing school districts from
liability to taxation for the payment thereof if necessary to prevent a default in such
payment. The unified school district shall assume the indebtedness liabilities of the
existing school districts which shall be regarded as an indebtedness of the unified
school district for the purpose of determining the debt incurring capacity of the unified
school district.
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