Section 380.1605 - Discontinuance of community college; disposition of property; settlement of accounts and obligations(1) If a school district is operating a community college and a community college district is established and operated under Act No. 331 of the Public Acts of 1966, as amended, being sections 389.1 to 389.195 of the Michigan Compiled Laws, which community college district includes the territory of the school district or a major portion thereof, the board of the school district, with the approval of the state board, may discontinue the community college.(2) If a community college is discontinued, the board of education may:(a) Give real and personal property of the school district appropriate for community college use to the community college district, or sell it to the community college district at prices and on terms satisfactory to the school board, the community college district, and the state board, and execute and deliver contracts, deeds, and instruments of conveyance.(b) Sell the real or personal property used by the community college no longer deemed necessary for school district purposes or for community college purposes, at prices and on terms satisfactory to the board, and execute and deliver contracts, deeds, and instruments of conveyance.(c) Settle accounts and obligations which may arise on account of the community college district taking over the community college.(d) Rent or lease real or personal property of the school district to the community college district for times and terms as may be mutually agreed upon and contracted for.1976, Act 451, Imd. Eff. 1/13/1977.