16 V.S.A. App. ch. 5, § 5-3: New district to own all property of old districts

All real estate and other property and all assets of Bennington Graded School District, Inc. and Greater Bennington Schools, Inc. shall become the property of Bennington School District Incorporated on July 1 in the year following the calendar year in which it is voted to dissolve the old districts and to create the new district pursuant to subsection 8(a) of this chapter, subject, however, to any agreements with respect thereto made by Bennington Graded School District, Inc., or Greater Bennington Schools, Inc., before July 1 in such year.