Section X-32

[Previous] [Next] [Up] [Top]

Section X-32: State public common school building equalization fund.

  For the purpose of providing buildings for school districts,
there is hereby established a State Public Common School Building
Equalization Fund in which shall be deposited (1) such monies as
may be designated or provided for such purpose by the
Legislature, other than ad valorem taxes, and (2) the proceeds of
all property that shall fall to the State by escheat and
penalties for unlawful holding of real estate by corporations;
provided, that if such disposition and use of money from any such
sources shall be declared invalid, the validity of other
provisions of this section shall not be affected thereby.  The
State Public Common School Building Equalization Fund shall be
administered by the State Board of Education, until otherwise
provided by the Legislature.  Such Fund shall be used to aid
school districts in acquiring buildings, under such regulations
as may be prescribed by the administering agency, unless
otherwise provided by law, and the amount paid therefrom to or
for any school district shall be determined by a formula
established by the Legislature.  The administering agency is
authorized to accept grants-in-aid from the federal government
for building purposes.

[Previous] [Next] [Up] [Top]
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.