12-3916. Same; transfer of property; payment of outstanding indebtedness; transfer of debt service fund.
12-3916
12-3916. Same; transfer of property; payment of
outstanding indebtedness; transfer of debt service fund.
(a) Subject to the provisions of subsection (b), the books,
papers, equipment and other real and personal property belonging to the
departments consolidated pursuant to this act shall be transferred to and shall
become the property of the consolidated district, subject to any debts,
leases or other obligations that encumber such property.
(b) All funds in the treasury of any such fire district on the effective
date of consolidation may be
applied to the payment of any outstanding indebtedness,
including bonded indebtedness, of such fire district, and may be
transferred to the treasury of the newly created
consolidated fire district as determined by the board of county
commissioners. Any debt service fund of such fire district at the
time of consolidation may be transferred to the newly created
consolidated fire district. Any money transferred from the debt
service fund of the fire district shall be credited to a debt service
fund in the newly created consolidated fire district. The debt
service fund of the newly created consolidated fire district shall be kept
separate from any other debt service fund.
History: L. 1996, ch. 226, § 7;
L. 2008, ch. 163, § 20; July 1.