(1) At the board's discretion, the board may transfer books, records, equipment, property, personnel, accounts, and liabilities of the community college of Denver or any other entity to Red Rocks community college, Front Range community college, and the reconstituted community college of Denver in order to effect the creation of such colleges.(2) All employees, exempt and classified, transferred pursuant to subsection (1) of this section shall retain all rights to state personnel system and retirement benefits under the laws of this state, and their services shall be deemed to have been continuous. All such transfers and any abolishment of positions in the state personnel system shall be made and processed in accordance with state personnel system laws and rules and regulations.L. 85: Entire section added, p. 766, § 18, effective July 1.