AN ACT PERMITTING MILLSBORO SCHOOL, DISTRICT No. 23, TO TRANSFER SURPLUS FUNDS FROM A DEBT SERVICE LOCAL FUNDS ACCOUNT TO THE MILLSBORO CONSTRUCTION FUND ACCOUNT.
WHEREAS, the Millsboro School, District No. 23, has a surplus of approximately $44,000.00 in the account entitled Millsboro School District No. 23 Debt Service Local Funds Account; and
WHEREAS, the said Debt Service Account exceeds in amount any fiscal requirements for the funds therein by some $40,000.00; and
WHEREAS, the funds expected from taxes for the present year, 1967, to be paid into the Local Funds Debt Service Account will exceed by a considerable sum the fiscal requirements for the fund therein; and
WHEREAS, the surplus in said Debt Service Local Funds Account is not needed for the fiscal requirements for such account; and
WHEREAS, the surplus in said Local Funds Service Account (81-860-00) is required for the purposes of Construction Fund Account (67-860-00) in connection with the building program now in progress at said Millsboro School District No. 23 which program was approved by local referendum and by Legislative enactment:
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (THREE-FOURTHS OF ALL MEMBERS ELECTED THERETO CONCURRING THEREIN) :
from the Millsboro School, District No. 23, Debt Service Local Funds Account (81-860-00) to Millsboro School, District No. 23, Construction Fund Account (67-860-00).
Approved August 18, 1967.