In any county in this State in which the schools have not funds sufficient to pay all claims in cash the county board of education may, at its discretion, direct the county superintendent of education to set aside from the school funds of the county, or any of the school districts, an amount annually not in excess of ten per cent of such funds, for so many years as may be necessary to create a sufficient fund to put the schools of such county or any of the school districts on a cash basis.
HISTORY: 1962 Code Section 21-941; 1952 Code Section 21-941; 1942 Code Section 5372; 1932 Code Section 5428; Civ. C. '22 Section 2693; Civ. C. '12 Section 1807; 1902 (24) 1019; 1931 (37) 364.
Structure South Carolina Code of Laws
Chapter 69 - School Funds Generally
Section 59-69-10. State Treasurer may invest certain fund received from United States Government.
Section 59-69-20. State Treasurer shall hold certain property and moneys for educational purposes.
Section 59-69-30. State school fund.
Section 59-69-40. Funds given to State Superintendent for educational purposes.
Section 59-69-110. Authorization for creation of reserve fund to place schools on cash basis.
Section 59-69-120. Use of reserve fund.
Section 59-69-210. Prerequisites to payment of claims.
Section 59-69-215. Treasurer of county to disburse funds to school district.
Section 59-69-220. Approval of warrants by county superintendent of education or his agent.
Section 59-69-230. Payments from school funds.
Section 59-69-250. Treasurer required to carry forward unexpended balances; report.
Section 59-69-260. Certain officials prohibited from acquiring interest in claims or contracts.