§ 3449 - -Award, completed construction - Vermont Statutes

§ 3449. -Award, completed construction

Each incorporated school district or town school district which since July 1, 1947, has completed an approved new school plant, or has made extensive additions or major alterations in its old or existing school plant, which additions or alterations have been approved by the state board of education and which otherwise would not come under the provisions of sections 3447-3456 of this title, shall be entitled to and be awarded aid and assistance under such sections on the basis of twenty percent of the following fractions of the cost of construction: twenty-twentieths for projects completed or partially completed in 1953; nineteen-twentieths for projects completed in 1952; eighteen-twentieths for projects completed in 1951; seventeen-twentieths for projects completed in 1950; sixteen-twentieths for projects completed in 1949; fifteen-twentieths for projects completed in 1948; and fourteen-twentieths for projects completed in 1947. For the purposes of such award, the cost of construction shall not include any amounts derived from federal or private sources. Upon application by such school district the state board of education shall audit the cost of said plant, additions or alterations and shall make its award thereon and shall certify such award to the commissioner of finance and management who shall thereupon issue his warrants for the payment thereof. For this purpose there is hereby appropriated from the unappropriated surplus the sum of $500,000.00 plus such additional sums as may be necessary from the bond issue authorized by section 3447 of this title. (1953, No. 256, § 3; amended 1983, No. 195 (Adj. Sess.), § 5(b).)