72-4441. Vocational education capital outlay fund; sources.
72-4441
72-4441. Vocational education capital outlay fund; sources.(a) There is hereby established in every area vocational-technicalschool a fund which shall be called the "vocational education capital outlayfund," which fund shall consist of all moneys deposited therein or transferredthereto according to law. All moneys received by an area vocational-technicalschool from distributions made under this act shall be credited to the vocationaleducation capital outlay fund.
(b) Any moneys received, prior to or after the effective date of thisact, by an area vocational-technical school from donations, gifts, grantsor bequests, subject to any terms or conditions to the contrary imposedby the donor thereof, may be transferred to or deposited in the vocationaleducation capital outlay fund and may be expended by the area vocational-technicalschool for any purpose for which vocational education capital outlay aid maylawfully be expended.
History: L. 1977, ch. 235, § 2; L. 1983, ch. 238, § 2; Feb. 24.