§115C-482. Continuance of district until bonds are paid

Notwithstanding the provisions of any law which affect the  continued existence of a school district or the levy of taxes therein for the payment of its bonds, such school district shall continue in existence with its boundaries unchanged from those established at the  time of issuance of its bonds, unless such boundaries shall have been  extended and thereby embrace additional territory subject to the levy of such taxes, until all of its outstanding bonds, together with the interest thereon, shall be paid.

(1955, c. 1372, art. 13, s. 2; 1981,  c. 423, s. 1.)