The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1915-06-14
SCHOOL BOARDS
NOT ALLOWED TO
CONTRACT DEBT
NEW LAW WHICH WAS PASSED
LATE LEGISLATURES KEEPS
BOARDS or PUBLIC INSTRUC-
TON FROM FINANCIAL TRoU-
BILE.

Tallahassee, June ia law pro
hibiting county boards Of public in
struction from creating debts was
passed by the last legislature. II
was a. follows:
An act 90 amend chapter $500 Of
the Laws Of Florida approved June
Ist, 1905, the same being an act TO
authorize the county boards Of pub
lie instruction 20 borrow money for
the payment Of school warrants when
there are no funds In the treasury for
such purpose, and 70 pay interest on
such loans not exceeding eight 81
. percent per annum.
Be II enacted by the legislature Of
the state u Florida: Section l. That
chapter $500 81 the Laws Of Florida,
/ approved June Let, 1905, be and the
same is hereby amended 80 as 90
read as follows:
Section l. That when there Is no
money in the county school fund ap-
! plicable % the payment II outstaud-
ing school warrants issued by ans
. county board o. public instruction in
/ this state the county board Of public
I instruction ~ the several counties in
/ this state are hereby authorized and
+ empowered e borrow money az -
[ rate not % exceed eight per ceat
per arnum for the purpose Of paw
ing all such outstanding warrants,
and for the further purpose Of paying
any and all Legitimate expenses in
CURED in operating the school - said
county. Provided. however. That IL
shall be unlawful for any county
school board 70 borrow any sum IF
money in any ore year in excess Of
eighty per cent Of tire amount as
estimated by them 20 be require -7r
the maintenance Of the necessary
common schools Of their county for
Tire next ensuing scholastic year In
+ the manner prescribed by Section 3fT,
/ subsection Is, Of the general statutes
which said sum So borrowed shall Be
paid In full before the board shal
be authorized 20 borrow on the es-
innate for any succeeding year. Pro
vided. further, That nothing IN this
nrt shall be construed 20 involiaata
any outstanding debt ~ any county
as now existing and now due, or %
I become due, or as requiring any board
~ public instruction - pay TIE same
in FUN before being permitted - bo~
row eighty per cent on ne sstimafe
for the next ensuing wear. or 20 pro
hibit any board from funding o. re-
funding at its maturity snT debt ere
. ated and existing on Or before Jul,
fSt. A. n. 1915. and being thereby
prohibited from borrowing eighty per
B. cent Of it's income fer the ensuing
. year as provided above. and provi1-
Cd further. that no school board she'll
after July 1915. incur debts ~
( any nature in excess - the estimate
. amount except as herein provided.
Section 2. That II shall b the duty
II the county treasurer upon pre-
sentation 20 him ~ the county school
warrant 70 pay the same. If there
ere funds In his custody applicable
I thereto. and II there are no such
! funds. he shall endorse the fact or
! The warrant with the date - pre-
sentation and afix his signatur,
thereto.
Section g. That an interest pay
ments made under this act shall b,
by warrant issued - the county
board Of public instruction in thg
2 same manner as warrants for othei
indebtedness are issued.
p Section Z. That al laws and part.
s o. laws in conflict with the provis
A ions of iris art Be and the same ar,
Z hereby repealed.
j. Section 5. That This art shall tax,
- effect Immediately upon its approve
q, by the governor.
- Approved June 3. 1915.