Washington Code 57.32.024 – Vesting of funds and property in consolidated district — Outstanding indebtedness
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Upon the formation of any consolidated district, all funds, rights, and property, real and personal, of the former districts, shall vest in and become the property of the consolidated district. Unless the agreement for consolidation provides to the contrary, any outstanding indebtedness of any form, owed by the districts, shall remain the obligation of the area of the original debtor district and the board of commissioners of the consolidated district shall make such levies, assessments, or charges for service upon that area or the users therein as shall pay off the indebtedness at maturity.
NOTES:
Part headings not law—Effective date—1996 c 230: See notes following RCW 57.02.001.
Terms Used In Washington Code 57.32.024
- district: means a water-sewer district, a sewer district, or a water district. See Washington Code 57.02.001
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.