B.__Assume all the duties and liabilities under any outstanding lease agreements.

The school board or municipal officers of a participating municipality shall make the transfer notwithstanding any other provision in the charter of the school administrative district or participating municipality or other provision of law.

3. Financing assumed debts.__If a school management unit has assumed the outstanding indebtedness of a former school administrative unit:

A.__The school board of directors may, notwithstanding any other statute or any provision of any trust agreement, use any sinking fund or other money set aside by the school administrative unit to pay off the indebtedness for which the money was dedicated; and

B.__A municipality within a proposed school management unit may, by a majority vote of its voters, transfer money raised and appropriated for school construction purposes to a proposed school management unit if and when the unit takes over the operation of the public schools within its jurisdiction.__The municipality may withdraw this appropriation only if:

(1)__The municipal service district is not established pursuant to section 2112; or

(2)__Nine months or more after the original vote, and prior to establishment of the school management unit, the electorate of the municipality by a majority vote of its voters votes to withdraw the appropriation.

4.__Transfer of authority.__The operational date and transfer of authority of a school management unit is as follows.

A.__A school management unit becomes operative on the later of:

(1)__The date that the state board issues certification under subsection 1; and