For the purpose of this article, the property, assets and liabilities of the counties, as referred to in the preceding section, at the time of the admission of the state into the Union, shall be deemed the property, assets and liabilities of the original county or counties in Oklahoma Territory, and the new county or counties created, in whole or in part out of such original county or counties; and the decree of the Supreme Court in all such actions shall be based, as near as may be, upon the fair and reasonable value of such of the property and assets belonging to such counties, and the taxable value of the property in the counties, or parts of counties, affected by such divisions or distribution, so that each county shall be charged with liability and awarded assets in the proportion which the taxable value of its property bears to the taxable value of other counties affected by and interested with it in the divisions and distribution of property, assets and liabilities, as shown by the tax rolls for the year 1907; and such decree shall be so framed as to fix and describe the assets awarded to each county and the liabilities which shall be borne by it, and determine whether such liabilities shall be borne by any such county separately or jointly with another county, and determine the amount and proportion of liabilities. All property of a permanent and fixed nature, as mentioned herein, shall be decreed to and the title thereto be vested in the county in which the same shall be situated: Provided, however, that the board of county commissioners in any such county are hereby authorized to confer and agree upon such a division of any and all such property, assets and liabilities as may to them seem just and equitable, and when such agreement shall have been reached it shall be reduced to writing, subscribed by a majority of the members of the board of county commissioners of each of the counties that is a party to such agreement; and the same shall be entered at length upon the records of the proceedings of the board of county commissioners of the respective counties; a certified copy of such agreement shall thereupon be transmitted by one or more of the county clerks of any such county or counties to the Clerk of the Supreme Court, within thirty days of the date of such agreement; and the Supreme Court shall, thereupon, render a final judgment decreeing the division and distribution of any and all such assets and the apportionment of such liabilities according to the terms of such agreement, and vesting the title to any property mentioned in such agreement as therein provided; and such judgment shall be final and conclusive in law and equity, and no rehearing shall ever be allowed in any such case.

R.L. 1910, § 1513.