Chap. 128.—An ACT to authorize the county school board of Tazewell county
to cancel certain indebtedness of the county school fund to the district school
funds of said county, and to use for general school purposes any surplus funds
arising from district levies made for capital expenditures and the payment of
existing indebtedness. [H B 133]

Approved March 16, 1934

Whereas, the county school board of Tazewell county has here-
tofore, from time to time, transferred accumulated surpluses of dis-
trict school funds to the county school fund of said county and used
the same for general school purposes, which transfers have been treated,
and handled on the treasurer’s books, as loans from the said district
funds to the said county school fund, so that the said books show the
county school fund to be indebted to the said district school funds in
the aggregate amount of all of said transfers, the aggregate amount
thereof being around one hundred thousand dollars; and,

Whereas, no part of the district funds so transferred are needed
by any of the said school districts for the purposes for which they were
levied and collected ; and,

Whereas, certain surpluses have accrued and may continue to accrue
in the district school funds of said county from levies made for capital

expenditures and for payment of district indebtedness; now, therefore,

1. Be it enacted by the General Assembly of Virginia, That the
county school board of Tazewell county be, and it is hereby, author-
ized and empowered to cancel and extinguish the aforesaid indebtedness
of the county school fund of said county to the district school funds
thereof, which may be accomplished by the county school board and
the treasurer making appropriate entries on their records and accounts,
upon which being done, the Auditor of Public Accounts will take due
cognizance thereof ; and, the said county school board is further author-
ized and empowered to use for general school purposes of the county,
any surplus of funds accrued or to accrue from levies made in pur-
suance of section six hundred and ninety-eight of the Code of Virginia,
for capital expenditures and for the payment of existing indebtedness,
after making provision for necessary capital expenditures and for such
district indebtedness.

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