§ 75. Disposition of town property on alteration of boundaries. When
the boundaries of a town owning real or personal property shall be
altered, either by a division of a town into two or more towns or by the
annexation of a part of its territory to another town or towns, the town
boards of the several towns affected by such alterations shall meet as
soon as may be after the first biennial town elections subsequently held
in such towns, and shall make such agreement concerning the disposition
to be made of such real and personal property, and the apportionment of
the proceeds, as they shall deem equitable and take all measures, and
execute all conveyances necessary to carry such agreement into effect.
If no such agreement shall be made within six months after such town
elections, the town board of each town in which any portion of such real
property, or in whose possession any of such personal property shall be,
shall, as soon as may be, sell and convey such part of the real property
as shall be included within the limits of the town as fixed by such
alteration, and such of the personal property as may be in its
possession; and the proceeds arising from the sale shall be apportioned
between the several towns interested therein, by the town boards of all
the towns, according to the amount of the taxable property of the town
divided or altered, as the same existed immediately before such division
or alteration, to be ascertained by the last assessment-roll of such
town. No town cemetery or burialground shall be sold or divided, but the
same shall belong to the town within which it may be situated after a
division of the town shall have been made, and no lots heretofore
granted by the people of this state to any town for the support of the
gospel and of schools, commonly called the gospel and school lots, shall
be so sold or apportioned.