Private Acts of 1993 Chapter 72

SECTION 1. The Oneida Special School District is authorized to refinance the one million five hundred thousand dollars ($1,500,000) of indebtedness authorized by and subject to the provisions of Chapter 147 of the Private Acts of 1990. Notwithstanding the provisions of such act to the contrary, the amount of the refinanced indebtedness may exceed one million five hundred thousand dollars ($1,500,000) if the tax rate provided in Chapter 147 generates sufficient revenue to repay such indebtedness and the expenses of such refinancing.

SECTION 2. Any funds in excess of one million five hundred thousand dollars ($1,500,000) which become available as a result of refinancing indebtedness in accordance with the provisions of Section 1 shall be expended for the construction and equipping of new facilities in such district.

SECTION 3. This act shall take effect upon becoming a law, the public welfare requiring it.

Passed: May 10, 1993.