15-1464
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15-1464. State aid per capita distribution for capital outlay; capital outlay fund; appropriation A. In addition to the appropriation prescribed in section 15-1463, subsection A, this state shall pay to each community college district state aid for capital outlay in the following manner: 1. For fiscal year 1992-1993 for a community college district which had less than five thousand actual full-time equivalent students according to the most recent fiscal year actual full-time equivalent student count, the amount determined by multiplying the number of actual full-time equivalent students according to the most recent fiscal year actual full-time equivalent student count by two hundred seven dollars. 2. For fiscal year 1992-1993 for a community college district which had five thousand or more actual full-time equivalent students according to the most recent fiscal year actual full-time equivalent student count, the amount determined by multiplying the number of actual full-time equivalent students according to the most recent fiscal year actual full-time equivalent student count by one hundred fifty-eight dollars. 3. Beginning with fiscal year 1993-1994 the legislature shall adjust by the growth rate for common and high school districts as provided by law, subject to appropriation, the amount of state aid to community college districts as provided in paragraphs 1 and 2. B. The basis for computing full-time equivalent students for the capital outlay per capita distribution shall be on the same basis as the computation prescribed in section 15-1466.01. C. In addition to the formula to determine the appropriations prescribed in section 15-1463, subsection A and subsection A of this section, this state may pay additional amounts for capital outlay to a community college district based on requests from the district. D. Appropriations for capital outlay made pursuant to subsections A and C of this section and section 15-1463 shall be made to an account designated as the capital outlay fund. E. At the beginning of each fiscal year, the district board shall present to the department of administration a claim for the annual amount appropriated by the legislature and assigned to the district for capital outlay purposes. The department of administration shall draw a warrant in payment of the claim and shall transmit the warrant to the state treasurer who shall disburse the funds to the district for capital outlay purposes, to be expended as provided by law. If no community college exists, the department shall establish a fund for new future community college districts to be disbursed as needed. F. Notwithstanding subsection E of this section, a community college district may request the state treasurer to disburse the monies to the local government investment pool for deposit into the district's account as established in section 35-326. G. Each district has the option of using up to twenty per cent of its total capital outlay aid appropriation for operating aid purposes or taking this same amount out of the district's total operating state aid appropriation and using it for capital outlay purposes. |