439. The Council shall receive, for the account of the school boards, the proceeds of the school tax levied for their purposes, to a maximum amount representing either 6 % of the aggregate of their net expenditures or a taxation rate of $0.25 per $100 of the standardized assessment of taxable immovables or a portion of that assessment included in the real estate tax base of each school board.
The Council shall apportion the proceeds of the tax among the school boards, to the extent and according to the rules indicated by resolution.