Section 15-469 - Lapsing of common school district; conditions; procedure; disposition of property and moniesA. If in a common school district there has been a student count of less than eight pupils between the ages of six and twenty-one years for one school year the county school superintendent may suspend the common school district and report the suspension and reasons to the common school district and the board of supervisors at its next meeting.B. The county school superintendent may provide the common school district additional time to recruit more pupils. If the common school district has a student count of less than eight pupils at the end of the additional time, the board of supervisors may declare the common school district lapsed and attach the territory to one or more of the adjoining school districts, dispose of the property of the lapsed common school district and apply the proceeds to the credit of the lapsed common school district. The county school superintendent shall determine all unbonded indebtedness of the lapsed common school district and draw his warrant, on proper vouchers, on the county treasurer in payment of the unbonded indebtedness. Any balance remaining after such a payment shall be transferred to the county school fund.Amended by L. 2018, ch. 89,s. 1, eff. 8/3/2018.