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officers. The chair of the municipal service district officers | | shall call a meeting of the committee within 30 days of the | | filing of the notice of the vote in subsection 3. The chair | | shall open the meeting by presiding over the election of a | | chair of the committee. The responsibility for the preparation | | of the agreement rests with the committee.__The committee may | | draw upon the resources of the municipal service district for | | information not readily available at the local level and may | | employ competent advisors within the fiscal limit authorized | | by the voters. The agreement must be submitted to the | | municipal service district officers within 90 days after the | | committee is formed. Extensions of time may be granted by the | | municipal service district officers at the request of the | | committee. |
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| | | B.__The agreement must address the provision of educational | | services for all students in the school management unit and | | other related matters in accordance with Title 20-A, section | | 1403, subsection 4.__The agreement must provide that during | | the first year following the dissolution, students may | | attend the school they would have attended if the unit had | | not dissolved. The allowable tuition rate for students sent | | from one municipality to another in the former school | | management unit must be determined under Title 20-A, section | | 5805, subsection 1, except that it is not subject to the | | state per pupil average limitation in Title 20-A, section | | 5805, subsection 2. |
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| | | C.__The agreement must contain any terms necessary to | | effectuate an equitable division of the property, including | | but not limited to that of the school management unit, among | | the participating municipalities represented by the | | committee and transfer title of the property to one or more | | municipalities following dissolution, except that the school | | management unit's educational program may not be disrupted | | solely because of the transfer of any given property before | | it may complete the transfer. |
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| | | D.__The agreement must contain any terms necessary to | | allocate equitably among the participating municipalities | | all contractual obligations and other liabilities, as | | appropriate. |
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| | | E.__The agreement must provide that the municipal service | | district remain intact for the purpose of securing and retiring | | any outstanding indebtedness, except that the dissolution | | agreement may provide for alternate means for retiring | | outstanding indebtedness.__For purposes of this paragraph, the | | term "outstanding indebtedness" means bonds or notes issued by | | the municipal service district officers, |
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