Washington Code 28A.315.245 – Adjustment of assets and liabilities
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In determining an equitable adjustment of assets and liabilities, the negotiating school districts and the regional committee shall consider the following factors:
Terms Used In Washington Code 28A.315.245
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Regional committee: means the regional committee on school district organization created by this chapter. See Washington Code 28A.315.025
- School district: means the territory under the jurisdiction of a single governing board designated and referred to as the board of directors. See Washington Code 28A.315.025
(1) The number of school-age children residing in each school district and in each part of a district involved or affected by the proposed change in school district organization;
(2) The assessed valuation of the property located in each school district and in each part of a district involved or affected by the proposed change in school district organization;
(3) The purpose for which the bonded indebtedness of any school district involved or affected by the proposed change in school district organization was incurred;
(4) The history and relationship of the property affected to the students and communities affected by the proposed change in school district organization;
(5) Additional burdens to the districts affected by the proposed change in school district organization as a result of the proposed organization;
(6) The value, location, and disposition of all improvements located in the school districts involved or affected by the proposed change in school district organization;
(7) The consideration of all other sources of funding; and
(8) Any other factors that in the judgment of the school districts or regional committee are important or essential to the making of an equitable adjustment of assets and liabilities.
[ 1999 c 315 § 701.]