2006 New York Code - Application Of Proceeds Of Sale.

 
    § 403. Application  of  proceeds of sale.  All moneys arising from any
  sale made in pursuance of the last preceding section, shall  be  applied
  to  the  expenses  incurred  in procuring a new site, and in removing or
  erecting thereon a schoolhouse, and improving and furnishing  such  site
  and  building  and their appurtenances, so far as such application shall
  be necessary; and the surplus, if any, shall be devoted to the  purchase
  of  school apparatus and the support of the school, as the voters of the
  district at any meeting shall direct.