Acquisition of Property and Gifts. The School, within constitutional and statutory limits, may acquire and dispose of property, provided that, upon termination of the Charter, the following will occur: All assets of School shall revert to the state, except that, if all or any portion of a School facility is financed with the proceeds of general obligation bonds issued by a local school board, the facility shall revert to the local school board.xiii The School’s Governing Council may accept or reject any charitable gift, grant, devise or bequest; provided that no such gift, grant, devise or bequest shall be accepted if subject to any condition contrary to law or to the Material Terms of this Contract as set forth in Article VIII below. The particular gift, grant, devise or bequest shall be considered an asset of the School.
Acquisition of Property and Gifts. The School, within constitutional and statutory limits, may acquire and dispose of property; provided that, upon termination of the Charter, the following will occur. All assets of the School shall revert to the Authorizerxii. The School’s governing body may accept or reject any charitable gift, grant, devise or bequest; provided that no such gift, grant, devise or bequest shall be accepted if subject to any condition contrary to law or to the material terms of this contract as set forth in Article 6 below. The particular gift, grant, devise or bequest shall be considered an asset of the School.
Acquisition of Property and Gifts. The School, within constitutional and statutory limits, may acquire and dispose of property; provided that, upon termination of the Charter, the following will occur.
