KRS 160.065: Liability for indebtedness in case of annexation.

When any property assessable for school purposes in one school district is annexed by or

transferred to another school district, the recipient district shall assume a part of the

indebtedness, if any, of the other school district incurred for school buildings and grounds

in the proportion the assessed valuation of property taxable for school purposes

transferred bears to the total assessed valuation of property taxable for school purposes in

the district losing the territory.