Q May a district issue a note under Section 37-59-101 et. seq to reimburse the districtís maintenance fund?

A No, Section 37-59-103 requires the School Board to adopt a resolution declaring the necessity for the borrowed money, specifying the amount to be borrowed, the date of the maturity thereof, and how such indebtedness is to be evidenced. The resolution must be adopted prior to borrowing any money. Section 37-59-105 sets forth the process by which an election may be held on the issue of borrowing. An election, if required, must be conducted prior to the issuance of notes. (Attorney Generalís Opinion to Watson, July 15, 2016)