Transfer of property, money, taxes and special assessments upon merger or consolidation of district.

1. Upon the merger of any special district to which the Local Government Budget and Finance Act, NRS 354.470 to 354.626 , inclusive, is applicable, all property and money remaining in the treasury of that district must be surrendered and transferred to the governmental unit which assumes its obligations. 2. Upon the consolidation of any special district to which the Local Government Budget and Finance Act is applicable, all property and money remaining in the treasury of that district must be surrendered and transferred to the consolidated governmental unit. 3. Taxes, including delinquent taxes, and special assessments paid after the merger or consolidation of special districts must be paid to the governmental unit assuming the district’s obligations in case of merger or to the consolidation governmental unit in the case of consolidation.