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Section 40-1811 - DISPOSITION OF SURPLUS FUNDS AND PROPERTY OF DISSOLVED SYSTEM OR DISTRICT.

ID Code § 40-1811 (2019) (N/A)
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40-1811. DISPOSITION OF SURPLUS FUNDS AND PROPERTY OF DISSOLVED SYSTEM OR DISTRICT. (1) After final payment of all expenses of proceedings in relation to dissolution and of all legal claims, liabilities, bonded and other indebtedness of the dissolved highway district, and after liquidation and winding up of the affairs of the district, all surplus moneys of the dissolved highway district remaining in the special fund of the dissolved district shall immediately be delivered to the treasurer of the succeeding operational unit. Title to all machinery, buildings, lands, and property of every kind and nature belonging to the dissolved system or district shall immediately upon entry of the order of dissolution, and without further conveyance, be vested in the succeeding operational unit.

(2) No city whose incorporated limits lie wholly or partially within the boundaries of a dissolved highway district shall be entitled to receive any share of the moneys of the dissolved highway district.

History:

[40-1811, added 1985, ch. 253, sec. 2, p. 680.]

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