Town of Cassian v. Town of Nokomis

The town of Nokomis was created under sec. 60.06, Stats. Sub. (5) of that section provides that “the credits and indebtedness as between the town so created and the town or towns of which it was formerly a part shall be apportioned according to the provisions of section 66.03.”

The applicable subsections of sec. 66.03, Stats., are (2), (7), and (8). They provide:

“ (2) Basis. Except as otherwise provided in this section when territory is transferred, in any manner provided by law, from one municipality to another, there shall be assigned to such other municipality such proportion of the assets…