§ 1805. Powers of central school district; officers of component
districts; transition state aid. All central school districts shall
have the same powers and be subject to the same limitations that are now
conferred or imposed by law upon union free school districts as provided
by this chapter. The district officers of the several existing
districts shall remain in office until August first next following
organization of such central school district for the purpose of
conducting and maintaining school in the several districts, the carrying
out of contracts in force at the time of the organization of such
central school district, of paying all just debts and obligations of
such existing districts due and payable on or prior to said August
first, and of levying and collecting taxes raised or necessary to be
raised for any of said purposes. For the purposes of the apportionment
and payment of public moneys, notwithstanding any other provisions of
this article, any apportionments and payments made during the school
year in which such central school district was organized shall be
apportioned and credited to the existing districts. Any apportionments
made and paid during the school year next succeeding the date of the
organization of such central school district shall be made and credited
to the central school district but the amounts thereof shall be
determined upon the basis of the continuance of the existing districts
as separate districts during the entire school year in which such
central school district was organized.