AN ACT TO PERMIT NEW CASTLE-GUNNING BEDFORD SCHOOL BOARD OF EDUCATION TO TRANSFER CERTAIN FUNDS FROM ITS CURRENT EXPENSE ACCOUNT TO ITS SCHOOL CONSTRUCTION ACCOUNT.
Be it enacted by the General Assembly of the State of Delaware (three-fourths of all members elected to each branch thereof concurring therein):
Section 1. The board of Education of the New Castle-Gunning Bedford School District is authorized to transfer the sum of $222,000 from the accumulated balance in the local current expense account to the local school construction account. The sum transferred is to be used to provide the increased local share of funds authorized by House Bill No. 528 as amended and passed by the second session of the 125th General Assembly and known, styled, or referred to as "Capital Improvement Bonds of 1970".
Section 2. Of the $222,000 local funds under Section 1, there shall be designated $111,000 for the William Penn High School addition, CN 1969-9-A, and $111,000 for the 15-room kindergarten project, CN 1970-23-k.
Section 3. Any sums hereby authorized to be transferred from the local current expense account which are unencumbered or unexpended after one year from the date of occupancy of the projects identified in Section 2 hereof shall revert to the local current expense account of the New Castle-Gunning Bedford School District.
Approved June 3, 1970.