§ 1504. Formation of new district. 1. A district superintendent may\norganize a new school district out of the territory of one or more\nschool districts which are wholly within the geographic area served by\nhis board of cooperative educational services, whenever the educational\ninterests of the community require it. If there is an outstanding bonded\nindebtedness chargeable against the district or districts out of the\nterritory of which such new district is organized, the district\nsuperintendent shall apportion said indebtedness between such new\ndistrict and the remaining portion of the district or districts out of\nwhich such new district is organized, according to the assessed\nvaluation thereof, and the portion of the indebtedness so apportioned\nshall become a charge for principal and interest upon the respective\ndistricts as though the same had been incurred by said districts\nseparately.\n 2. The district superintendents of two or more adjoining supervisory\ndistricts, when public interests require it, may form a joint school\ndistrict out of the adjoining portions of their respective districts.\n 3. Any municipality situated wholly within one central or union free\nschool district but whose boundaries are not coterminous with the\nboundaries of such school district may organize, pursuant to the\nprovisions of this subdivision, a new union free school district\nconsisting of the entire territory of such municipality whenever\nrequired by the educational interests of the community.\n a. No such new school district may be organized unless: (i) the\nenrollment of the municipality seeking to organize such new school\ndistrict equals at least two thousand children, and is no greater than\nsixty percent of the enrollment of the existing school district from\nwhich such new school district will be organized; (ii) such new school\ndistrict would have an actual valuation per total wealth pupil unit at\nleast equal to the statewide average; and (iii) the enrollment of the\nexisting school district from which such new school district will be\norganized equals at least two thousand children, excluding the residents\nof such municipality.\n b. No such new school district shall be organized unless the creation\nof such new school district first shall have been approved by: (i) a\nmajority vote of the residents of a municipality seeking to organize\nsuch new school district, provided that a vote of such residents shall\nnot be required if creation of the new school district has been approved\nby a vote of at least two-thirds of the members of the local governing\nbody of the municipality of such municipality (ii) a majority vote of\nthe trustees or members of the boards of education of the existing\nschool district from which such new school district will be organized;\nand (iii) a majority vote of the residents of such existing school\ndistrict, except that the residents of the municipality seeking to\norganize the new school district shall not be entitled to participate in\nsuch vote. Notwithstanding any provision of law to the contrary, a vote\nof the residents of an existing school district shall not be required if\nthe creation of the new school district has been approved by a vote of\nat least two-thirds of the trustees or members of the board of education\nof such existing school district.\n c. If a vote of the residents of a municipality is required, it shall\nbe the duty of the chief executive officer of the municipality seeking\nto organize a new school district, pursuant to a resolution duly adopted\nby the governing body of such municipality that the educational\ninterests of the community require the creation of a new school\ndistrict, to give public notice that a meeting of the qualified electors\nof such municipality will be held at some convenient place within such\nmunicipality to vote upon the question of creating such new school\ndistrict and to elect members of the board of education of such new\nscho
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