Shirley Rainbow, head teacher at Lowick Church of England School in Cumbria, said locals had given "widespread and whole-hearted support to the proposals" during celebrations last weekend to mark the school's foundation in February 1856.
The school will shut in July if the co-operative plans are not approved.
The formal proposal will now go to the School Organisation Committee for Cumbria, which is expected to take a decision on the school's future by May.
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