Sec. 7. (a) The transfer of:
(1) powers;
(2) duties;
(3) property;
(4) property rights;
(5) other assets;
(6) liabilities;
(7) contracts, both as to rights and obligations; and
(8) other issues connected with the transfer of authority from existing school corporations to the metropolitan school district;
shall take place at the time of the first meeting of the metropolitan board of education not more than one (1) month after the creation of the board.
(b) The transfer of the items listed in subsection (a) are vested in the metropolitan school district at the time of the first meeting of the metropolitan board of education.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-4-8-17.]
As added by P.L.1-2005, SEC.7.