1. The commission shall send a copy of its dissolution proposal or shall inform the board that it cannot agree upon a dissolution proposal not later than one year following the date of the organizational meeting of the commission. If the dissolving school district has outstanding bonds issued under section 423E.5* or 423F.4, the proposal shall require each school district receiving territory from the dissolving district to assume liability for the payment of a portion of such bonds that is equal to the percentage of the total number of resident pupils from the dissolving district who lived in the territory received during the last year of the dissolving district’s existence. The commission shall also send a copy of the dissolution proposal to the boards of directors of all school districts to which area of the dissolving school district will be attached. If the board of a district to which area of the dissolving school district will be attached objects to the attachment, within ten days following receipt of the dissolution proposal the board shall send its objections in writing to the commission. The commission may consider the objections and may modify the dissolution proposal. Ifthe dissolution proposal is modified, the commission shall notify the boards of directors of allschool districts towhich area of the dissolving school district will be attached. 2. Notifications required under subsection 1 shall be delivered using one of the following methods: a. Mail bearing a United States postal service postmark. b. Hand delivery. c. Facsimile transmission. d. Electronic delivery. 3. Ifthe commission cannot agree upon a dissolution proposal prior to the expiration of itsterm, the board may appoint a new commission.
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