ACQUISITION AND DISPOSITION OF PROPERTY. 3.1 All property, both real and personal, acquired by the Center shall be taken in the name of the Center and shall be the property of the Center and not the property of a participating Unified School District. If any such property is sold while this Agreement is in effect, the proceeds of such sale shall be paid into the treasury of the Center and may be expended in any lawful manner as directed by the Board of Directors of said Center.
3.2 Upon complete termination of this Agreement, the Board of Directors shall have the authority to distribute said property as herein provided, to member Unified School Districts that have entered into this Agreement. If the distribution of said property cannot be agreed upon by at least two-thirds of the members of the Board of Directors, the Board of Directors shall sell such property, at either private or public sale, and the proceeds of said sale shall be paid into the treasury of the Center. All monies in the treasury of the Center at the time of complete termination shall be distributed in equal shares to each member Unified School District which has entered into the Agreement and which is a member of the Center at the time of such termination.
ACQUISITION AND DISPOSITION OF PROPERTY. All property, both real and personal, acquired by Keystone shall be taken in the name of the service center, and shall not be the property of any participating school district. If any such property is sold while this agreement is in effect, the proceeds of such sale shall be paid into the treasury of Keystone and may be expended in any lawful manner as directed by the Keystone board of directors. Upon complete termination of this agreement for the provision of special education services, the board of directors shall have the authority to distribute said property to any participating member school districts or sell said property and distribute the cash proceeds as herein provided. If the distribution of said property cannot be agreed upon by at least two-thirds of the members of said board of directors, then the board of directors shall sell such property at either private or public sale for cash and the proceeds of said sale shall be paid into the Keystone treasury. All monies in the Keystone treasury at the time of complete termination of this agreement shall be distributed to each school district which is a member of the service center at the time of such complete termination on the same basis as each school district contributed to the budget of the service center for the last budget of the service center. Any district which withdraws from membership prior to complete termination of this agreement for the provision of special education services shall not be entitled to any property of Keystone or any cash refund.
ACQUISITION AND DISPOSITION OF PROPERTY. All property, both real and personal, acquired by the Center shall be taken in the name of the Center and shall be the property of the Center and not the property of any participating school district. If any such property is sold while this Agreement is in effect, the proceeds of such sale shall be paid into the treasury of the Center and may be expended in any lawful manner as approved by the Executive Cabinet of the Center. Upon complete termination and non-renewal of this Agreement, the Executive Cabinet shall have the authority to distribute said property, as herein provided, to member school districts who have entered into this Agreement. (See Attachment D) At least twelve (12) months prior to the expiration date of this Agreement, each Board of Education may choose to give written notice to the Executive Cabinet of the Center if their school district desires to withdraw from the Agreement and they no longer want to continue to participate in the Center. If two or more of the Boards of Education express the desire to continue their Agreement with the Center, the Center shall not be disorganized, but shall be continued under a new Agreement as prescribed in K.S.A. 72-13,100. In such event, all of the real and tangible personal property of the Center shall be transferred to and become the sole property of the Center as continued under terms of the new agreement. Any withdrawing school district or districts shall not be entitled to any part of the property of the Center or to any cash balance of the Center. If fewer than two Boards of Education express the desire to renegotiate an agreement to continue the Center, the Center shall be disorganized as of the expiration date of this Agreement, and the property of the Center shall be disposed of in the manner prescribed in the following paragraphs:
ACQUISITION AND DISPOSITION OF PROPERTY. The Board shall have the power to acquire (by gift, purchase or otherwise), own, hold, improve, build upon, operate, maintain, convey, sell, lease, transfer, or otherwise dispose of real or personal property in connection with the affairs of the Association. Any transfer of property shall be by document signed or approved by two-thirds (2/3) of the total voting power of the Association which shall include two-thirds (2/3) of the Members other than Declarant, or where the two (2) class voting structure is still in effect, two-thirds (2/3) of the voting power of each class of Members.
ACQUISITION AND DISPOSITION OF PROPERTY
