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160.065 Liability for indebtedness in case of annexation.

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160.065 Liability for indebtedness in case of annexation. When any property assessable for school purposes in one school district is annexed by or <br>transferred to another school district, the recipient district shall assume a part of the <br>indebtedness, if any, of the other school district incurred for school buildings and grounds <br>in the proportion the assessed valuation of property taxable for school purposes <br>transferred bears to the total assessed valuation of property taxable for school purposes in <br>the district losing the territory. Effective: July 13, 1990 <br>History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 421, effective July 13, 1990. -- Created 1942 Ky. Acts ch. 197, sec. 1.