Vermont § 477 - Merger of town and incorporated school districts

§ 477. Merger of town and incorporated school districts

• (a) An incorporated school district, by a majority vote of the legal voters present and
  voting at any meeting legally warned, may surrender its charter as a corporation for
  the maintenance of public schools or such part of its charter as pertains to the maintenance
  of public schools. Such surrender shall take effect not later than July 1 following
  the vote so taken, and such school corporation shall cease to exist, and it shall
  become thereby a part of the town school district. In the event of any such merger
  notwithstanding the provisions of section 423 of this title, the directors of the incorporated school district holding office at the time of
  the merger shall become members of the board of school directors of the town school
  district and shall continue in that office until the expiration of the terms for which
  they were elected by the incorporated school district. (b) By a majority vote of the legal voters present and voting at any meeting legally warned,
  a town district may become a part of an incorporated district, provided the incorporated
  district, at a meeting legally warned, votes to accept such merger. Such merger shall
  take effect July 1 following the vote so taken. When such a merger has occurred,
  the incorporated district shall be considered a town district in all respects pertaining
  to the maintenance and administration of its public schools. (c) In case of a union of an incorporated district and a town district under either subsection
  (a) or (b) of this section, each district shall settle its own business affairs and
  pay all its indebtedness, except for repairs and new buildings, shall deposit its
  records with the town clerk, and shall no longer exist except for the settlement of
  its own pecuniary affairs. In effecting such settlement, a district may remain in
  existence for not more than five years for the purpose only of voting, assessing,
  and collecting a special tax annually to pay such indebtedness. (Amended 1964, No. 7 (Sp. Sess.), eff. March 4, 1964.)