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299 <br /> <br />Unit, all authority and power of the Constituent Boards shall cease and <br />terminate, and the resulting Merged Board shall control, administer and <br />operate all the schools formerly administered by the existing two <br />administrative units. <br /> <br /> By way of illustration and not by way of limitation, on and after <br />the Effective Date, the Merged Board shall have and exercise all statutory <br />powers given to boards of education in general with the authority to pre- <br />pare and submit to the Board of Commissioners of Cabarrus County (the <br />"Commissioners") all necessary budgets, including supplemental budgets. <br />At the time required by law, the Merged Board shall prepare and submit <br />to the Commissioners all necessary capital outlay, debt service and current <br />expense budgets. The Merged Board shall expend all funds in conformity <br />with approved budgets and/or may operate under such continuing budget <br />resolutions as are or may be approved by the Commissioners and the Merged <br />Board. Subject to existing contracts, the Merged Board shall also have all <br />necessary power and authority to make contracts, to hire personnel, including <br />a superintendent for the Merged Unit, and to adopt policies and administrative <br />procedures as the same may relate to all matters for the school year 1983- <br />1984, and for subsequent school years. <br /> <br /> 6. Transfer of Facilities, Properties, Funds, Contracts and Other <br />Obligations to Merged Board. Upon the Effective Date, the title to all <br />property of the City Board and the County Board, both real and personal, <br />of every kind and description shall be vested in the Merged Board. The <br />Merged Board shall thereafter, possess all the powers, rights, privileges, <br />immunities of each of the constituent boards including all powers, rights, <br />privileges, and immunities conferred by Chapter 115C of the North Carolina <br />General Statutes; and all property, real, personal and mixed and all debts <br />due on whatever account and all other choses in action, and all and every <br />other interest of or belonging to or due to each of the constituent boards <br />so merged and consolidated shall be taken and deemed to be transferred to <br />and vested in the Merged Board without further act or deed. The Merged <br />Board shall thereafter be responsible and liable for all liabilities and <br />obligations of each of the constituent boards and any claim existing or <br />action or proceeding pending by or against either of such boards may be <br />prosecuted as if such merger or consolidation had not taken place and any <br />judgment rendered against any of the Constituent Boards may be enforced <br />against the surviving successor board. Such merger shall not affect any <br />rights of creditors. Ail facilities, properties, structures, funds, <br />contracts, including contracts of employment, deeds, titles and other <br />obligations, assets and liabilities of the constituent boards shall be <br />transferred to and shall be binding upon the Merged Board without further <br />action on behalf of either of the Constituent Boards. This agreement <br />shall be filed with the office of the Secretary of State of North Carolina <br />and filed and duly indexed at the office of the Register of Deeds for <br />Cabarrus County, North Carolina as soon after the Effective Date of the <br />merger as possible, but the failure to file this agreement shall not <br />invalidate the provisions of the agreement. <br /> <br /> 7. Attendance Areas. The Constituent Boards acknowledge that a <br />significant, motivating consideration in adopting this plan of merger and <br />consolidation is the desire by both the City Board and the County Board <br />to utilize existing school facilities fully and to avoid the unnecessary <br />construction of supplemental school facilities. Similarly, the Constituent <br />boards recognize and affirm the desirability of continuing existing <br />school attendance areas and student school assignments. In consideration <br />of these factors, until July 1, 1987 when a majority of the membership <br />of the Merged Board shall have been subject to election by the qualified <br />voters residing within the Merged Unit boundary lines, the alteration or <br />modification of the school attendance area of any school~located within the <br />Merged Unit existing upon the Effective Date and the assignment of students <br />thereto shall be subject to the following mandatory criteria: <br /> <br />a. Subject to subparagraphs 7c and 7d, the Merged Board shall <br />not alter or modify any school attendance area for the school year <br />1983-84. <br /> <br /> <br />