Whenever any such reserve fund reaches an amount sufficient to put the county or school district, as the case may be, on a cash basis, the fund may be used for said purpose. And in each year during the time necessary to create such reserve fund, the county superintendent of education shall use the fund accumulated as a loan, without interest, to pay claims held by teachers to whom pay certificates were originally issued, the funds so used to be replaced annually from taxes collected for school purposes.
HISTORY: 1962 Code Section 21-943; 1952 Code Section 21-943; 1942 Code Section 5373; 1932 Code Section 5429; Civ. C. '22 Section 2694; Civ. C. '12 Section 1808; 1902 (23) 1020.
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.