53G-4-1002. New industrial plants in school district -- Duty of school district.
A school district confronted with actual or anticipated large increases in enrollment because of the construction of a new industrial plant or plants to a degree that new buildings or additions to existing buildings are required shall make the following efforts to raise funds to meet those building needs:
(1) bond to its maximum capacity and maintain maximum bonding by rebonding at least once every other year until building needs are met;
(2) maintain an annual property tax levy for capital outlay and debt service combined of not less than.0036 per dollar of taxable value; and
(3) initiate any action necessary to qualify for any state, federal, or other funds for capital outlay for which the district may be eligible.