72-8219. Same; transfers from bond retirement fund to capital outlay fund.

72-8219

Chapter 72.--SCHOOLS Article 82.--ORGANIZATION, POWERS AND FINANCES OF BOARDS OF EDUCATION

      72-8219.   Same; transfers from bond retirement fund to capital outlayfund.On the first day of July of each year, the board of education maytransfer out of such bond retirement fund, to the capital outlay fund ofsuch district, any balance which shall be in excess of the balance ofprincipal and interest on bonds outstanding as of that date. Such fundstransferred to the capital outlay fund may be expended by the district forany purpose for which other capital outlay funds may be expended.

      History:   L. 1968, ch. 65, § 4; March 19.