§ 2-258 Apportionment of property and obligations of a special
district of a town upon the incorporation of a part in a village. If the
territory so incorporated as a village includes within its boundaries
part of a special district established by the town for a sewer, water,
light, fire, park, health, police or any other special district for
municipal purposes, the proportion of the bonded debt incurred by the
town and payable by a tax against the property within a special
district, for whose benefit the bonds were issued which shall be assumed
by the village and the apportionment of personal and real property
belonging to the special district shall be determined according to the
relative assessed valuation of the personal and real property in that
portion of the special district without the village and that portion
within the village, in the following manner: the town board of the town
when acting as a board for special district exclusive of a member who
may reside in the village or the commissioner or commissioners of a
special district where the special district is managed by a commissioner
or commissioners exclusive of a member who may reside in the village and
the trustees of the village being unable to agree within six months
after the incorporation of the village becomes complete upon the
proportion of the debt and the apportionment of the personal and real
property, then the supreme court shall have power to determine such
division and to enforce such award, division and determination as shall
be made in the premises in a suit in equity to be brought in the name of
either of the said parties.