La. Stat. tit. 33 § 261
Current with operative changes from the 2024 Third Special Legislative Session
If after the payment of all the debts of a municipality dissolved under this Subpart, any balance of money remains, it shall be turned over to the school board of the parish to be used in the education of the children of school age residing within the territory covered by the municipality.
La. R.S. § 33:261