The affiliation agreement must provide:
(1) for the affiliating school districts to appoint a liaison committee which shall recommend organizational and administrative procedures and measures to assure adequate accounting procedures;
(2) procedures by which career and technology education funds appropriated by the federal, state, or county government may be applied for and received;
(3) procedures by which one of the affiliating school districts may hold title to real and personal property acquired with affiliated funds for the benefit of all affiliated school districts; and
(4) that each of the affiliating school districts shall have an equity in the joint assets to the extent that the assessed tax value of the property within the school district bears to the aggregate assessed tax value of the property within the combined area of the school districts. If less than an entire school district is served by the career and technology education facilities or programs, only the area served must be considered in computing equities in joint assets.
HISTORY: 1962 Code Section 21-699; 1966 (54) 2144; 2005 Act No. 49, Section 16, eff May 3, 2005.
Effect of Amendment
The 2005 amendment designated items (a) to (d) as paragraphs (1) to (4); in paragraphs (1) and (4) substituted "career and technology" for "vocational"; and, in paragraph (3), deleted "for the benefit of all" following "hold title" and at the end substituted "affiliated funds for the benefit of all affiliated school districts" for "such funds".