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Show H Tho Journal In stating that an ovel H diaft existed in the school fund when H the lething Hoaid or Education turn- M ed over to the piesent Incimibcnts.for- H got to say that the icllrlng boaid had H previously trausfencd some WOOO to H tho building fund, making $m)oo in H that fund.and WOO to the sinking fund m and also that the letlrlng boaid had m made a recoid In w Iplng of $15,000 in m u-hool bonds all the bonds that can be paid until 1003. Furthermore tho overcraft Is only temporary and did not cost tho district a cent as a $5,000 overdraft privilege has been allowed by tho bank where the account has been deposited for the past four years free of Interest. The retiring President Presi-dent stated that the reason for the overdraft was because the January state and county appropriations had not been made. These will be made about the middle of the month when the account will show a much larger balance than It now shows In overdraft- . |