321.688.  Consolidation of districts — ballot language — effect of. — 1.  The board of directors of any fire protection districts located wholly within any county of the first classification may consolidate with each other upon the passage of a joint resolution by each board desiring to consolidate.  The joint resolution shall not become effective unless each board submits to the voters residing within the fire protection districts at a state general, primary, or special election a proposal to authorize the consolidation under this section.

  2.  The ballot of submission for the consolidation authorized in this section shall be in substantially the following form:

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If a majority of the votes cast on the question by the qualified voters voting thereon in each existing fire protection district are in favor of the question, then the consolidation shall become effective on January first of the year immediately following the approval of the consolidation, unless the consolidation is approved at a November election, in which case the consolidation shall become effective on January first of the second year following the approval of the consolidation.

  3.  The board of directors of any consolidated fire protection district created under this section shall consist of the existing board members of the fire protection districts that were consolidated.  Upon the occurrence of a vacancy in the membership of the board, the number of members on the board may be reduced upon approval by a majority of the remaining board members, but the number of seats shall not be reduced to fewer than five.  The terms of office for board members shall be identical to the terms of office the board members were originally elected to serve before the consolidation.

  4.  Upon the approval of consolidation under this section, the consolidated district shall be a political subdivision of this state and a body corporate, with all the powers of like or similar corporations, and with all the powers, privileges, and duties of fire protection districts under this chapter.  All properties, rights, assets, and liabilities of the fire protection districts which are consolidated, including outstanding bonds thereof if any, shall become the properties, rights, assets, and liabilities of the consolidated fire protection district.

  5.  The consolidated fire protection district shall levy the same taxes as levied in the fire protection district with the lowest tax levy before the consolidation unless a tax levy is specifically set forth in the ballot language approved by the voters of the consolidating districts, except that the tax levy of the consolidated district shall not exceed the highest tax levy of the consolidating districts.