INDEPENDENT AGRICULTURAL AND TECHNICAL SCHOOLS
Capital reserve fund
[Text of section effective until July 1 preceding the opening of the Essex North Shore agricultural and technical school. Repealed by 2004, 463, Sec. 1. See 2004, 463, Sec. 18 as amended by 2010, 130, Sec. 7.]
Section 13. The board of trustees shall establish and maintain a capital reserve fund for the purpose of financing necessary facility maintenance and capital improvements, either directly or through the payment of debt service.