AN ACT PERMITTING GEORGETOWN SPECIAL SCHOOL DISTRICT TO TRANSFER SURPLUS FUNDS FROM A DEBT SERVICE ACCOUNT TO THE FUND ESTABLISHED FROM SALE OF LOCAL BONDS.
WHEREAS, the Georgetown Special School District has a surplus of approximately $72,000.00 in the account entitled Debt Service Account; and
WHEREAS, the said Debt Service Account exceeds in amount any fiscal requirements for the funds therein by some $62,000.00.
Be it enacted by the General Assembly of the State of Delaware (three-fourths of all Members elected thereto concurring therein):
Section 1. The Georgetown Special School District is hereby authorized and empowered to transfer the sum of $62,000.00 from the Georgetown Special School Debt Service Account (820-8200) to Construction Account (920-8200) of the District to be used as the local share of a construction program of $155,000.00 provided in Chapter 171, Volume 54, Delaware Laws, as amended by House Bill 496, approved April 14, 1964; Certificate of Necessity No. 150, January 15, 1964.
Approved May 6, 1964.