BONDS AND TAX ANTICIPATION NOTES
Revenues from the sale of Bus Bonds shall be deposited in an account labeled "Capital Funds" in the designated depository bank.
Revenue from the sale of Building Bonds shall be deposited in an account labeled "Construction Funds" in the designated depository bank. Revenues from separate Building Bond sales may not be commingled, but must be deposited in separated construction fund accounts.
The Board of Education may from time to time, as needed, borrow money for short periods of time in anticipation of revenue. Receipts from the issuance of Tax Anticipation Notes shall be deposited in the General Fund, and from Bond Anticipation Notes in the proper construction account.
Adoption date: January 1, 1993
Reviewed: November 20, 2002