Section 166.161 - Election on proposal to distribute fund - annual apportionment of balance of fund - effect on state aid1. The proposal shall be submitted to the voters of the county.2. The question shall be submitted in substantially the following form: Shall there be an annual distribution of the capital of the liquidated county school fund?
3. If the proposal to distribute annually the capital of the liquidated county school fund receives a majority of the votes cast, the body having control of the county school fund shall proceed thereafter to distribute annually the liquidated fund to the school districts. The accumulated balance of the fund shall be apportioned on or before August thirty-first, of each year, until the fund is liquidated and the apportionment shall be made in the manner provided in section 166.131. When the capital of the liquidated county school fund is distributed to the school districts the fund shall not be counted as a deduction in calculating the equalization quota as defined in section 163.031.L. 1963 p. 200 § 7-16, A.L. 1978 H.B. 971, A.L. 1982 Adopted by Initiative, Proposition C, November 2, 1982
Effective 1/1/1983