Section 3711. Sale of gospel or school lots on division of town

1.
  Whenever a town having lands assigned to  it  for  the  support  of  the
  gospel  or of schools, shall be divided into two or more towns, or shall
  be altered in its limits by the annexing of a part of its  territory  to
  other  towns, such lands shall be sold by the supervisor of the town, in
  which such lands were  included  immediately  before  such  division  or
  alteration;  and  the  proceeds thereof shall be apportioned between the
  towns interested therein, in the same manner as the other public  moneys
  of towns, so divided or altered, are apportioned.
    2. The shares of such moneys, to which the towns shall be respectively
  entitled,  shall be paid to the supervisors of the respective towns, and
  shall thereafter be subject to  the  provisions  of  section  twenty-one
  hundred forty-two.