A. If fire districts established under this article are consolidated, all the equipment, assets and liabilities of the affected districts that have requested consolidation shall be transferred to and become the property of the consolidated fire district.

Terms Used In Arizona Laws 48-823

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Property: includes both real and personal property. See Arizona Laws 1-215

B. All assets and liabilities and all books and records belonging to the fire fighters’ relief and pension fund of the fire districts that requested consolidation shall be transferred to and become the property of the consolidated district.

C. On consolidation of fire districts pursuant to section 48-822, the fire districts that requested consolidation are dissolved by operation of law and no longer exist. The district that requested consolidation may continue to operate temporarily under the authority of the consolidated district for purposes of transition.

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