§ 9 — Creation of contingent fund in school districts

§ 9. Creation of contingent fund in school districts. The board of\neducation or the trustees of any school district may in the year\nnineteen hundred and twenty or in any subsequent year, in addition to\nthe amount of the budget and other lawful taxes to be raised on the tax\nroll of said year, include in the total so to be raised an amount not\nexceeding thirty per centum of such total, which amount shall be known\nas the contingent fund and shall be applied to the purposes of the\nbudget of the succeeding year in anticipation of the tax to be levied\nthereon, and in each succeeding year the budget proposed to any school\ndistrict may provide for the reimbursement of said contingent fund, in\nsuch manner that funds to an amount deemed sufficient by the district\nmay be raised and kept available for the expenses of the district\nbetween the opening of the school year and the receipt of moneys raised\nby taxation for such year.\n