§18-9C-3 Powers and duties of state board of education with regard to management and administration of funds derived from issuance and sale of bonds.
§18-9C-3. Powers and duties of state board of education with regard to management and administration of funds derived from issuance and sale of bonds.
The state board is hereby authorized and empowered to accept, administer, manage and expend for the purposes designated all funds derived from the sale of bonds under authority of the "better school buildings amendment," pursuant to the allocation formula set forth in this article. The state board shall require comprehensive school facilities plans from each county board and shall release funds only for projects which are an approved part of such comprehensive plans. The state board shall make an annual report of their expenditures to the governor and the Legislature at the end of each fiscal year.
The state board is authorized and empowered, from time to time, to promulgate such rules and regulations as it may deem necessary and convenient to insure the full implementation of its powers and duties authorized under this article.