9-5-17. Title to school district property after consolidation--Assumption of debts and obligations. The school district as enlarged by such consolidation shall have title to all real and personal property of both school districts. All debts and obligations of the school districts as enlarged by such consolidation, other than existing bonded indebtedness, shall be assumed and paid by the school district as enlarged by such consolidation.
Source: SL 1951, ch 249, § 12; SDC Supp 1960, § 45.29A12.
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