Section 1 definition of "school board" BEFORE amended by 2007-29-44,Sch effective July 1, 2007 (BC Reg 229/07).
"school board" means a board or a francophone education authority as defined in the School Act.
Section 4(3) and (4) BEFORE amended by 2007-29-44,Sch effective July 1, 2007 (BC Reg 229/07).
(3) The obligations of school boards and educational institutions, including those that arise under an enactment or a bylaw, to make payments into sinking funds established for the repayment of the debt obligations owed to an authority are released.
(4) The debt obligations owed by school boards and educational institutions to the government under the certificate of approval program are released.
Section 5(3)(a) and (b) BEFORE amended by 2007-29-44,Sch effective July 1, 2007 (BC Reg 229/07).
(a) recover a debt service surplus of a school board as determined by the Minister of Education for the 1997/98 fiscal year by subtracting the amount of the surplus from the grant payable to the board under section 114 of the School Act during the period from April 1, 1998 to June 30, 1998, and
(b) fund a debt service deficit of a school board as determined by the Minister of Education for the 1997/98 fiscal year out of the consolidated revenue fund during the period from April 1, 1998 to June 30, 1998, without an appropriation other than this subsection.