1955 session laws – Ch.1 Sec.1
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CHAPTER 1 AN ACT TO AUTHORIZE THE BOARD OF TRUSTEES OF THE SOUTHERN PINES SCHOOL DISTRICT TO TRANSFER CERTAIN FUNDS FROM ITS DEBT SERVICE ACCOUNT TO ITS CAPITAL OUTLAY OR CURRENT EXPENSE ACCOUNTS, OR TO BOTH SUCH ACCOUNTS. The General Assembly of North Carolina do enact:
The Board of Trustees of the Southern Pines School District is hereby authorized and empowered to transfer all surplus funds held by it in its debt service account on the date of the ratification of this Act or on July 1, 1955, to its capital outlay account or current expense account, or to both such accounts, and to use said funds for capital outlay or current expense purposes, or both, including the construction of school buildings.