37-47-21 - Disposition of funds credited to school district which fails to apply for expenditure.
§ 37-47-21. Disposition of funds credited to school district which fails to apply for expenditure.
All funds, if any, which may accumulate in the state public school building fund under the provisions of this chapter because school districts entitled thereto do not make application for the expenditure of same for the purposes authorized by this chapter at the time same are credited to such school district may be used as a revolving fund for the purpose of making loans or advances to other school districts as is provided in Section 37-47-25.
Sources: Codes, 1942, § 6247-04; Laws, 1953, Ex Sess, ch. 13, § 4, eff from and after July 1, 1954.