OFFICIAL OPINION No. 34

OFFICIAL OPINION No. 34 Schools and school districts-Authority to borrow funds. 1. Under Section 634 of the School Code, a school board has the power to borrow funds for current expenses and debt service so long as the amount borrowed does not exceed the statutory limits and other requirements of the Act. Dr. David H. Kurtzman Secretary of Education Department of Education Harrisburg, Pennsylvania Dear Dr. Kurtzman: Harrisburg, Pa., May 20, 1971 This is in response to your request for advice dated May 5, 1971, concerning Neshaminy School District. It is our opinion that under Section 634 of the School Code, 24 P. S. § 6-634, the school board has the power to borrow funds for current OPINIONS OF THE ATTORNEY GENERAL 59 expense and debt service. So long as the amount borrowed does not exceed the statutory limits and the other requirements of Section 634 are met, we find nothing in the Code to prevent the school district from proceeding with its plans. We would mention that this is a local matter to be resolved between the school, its solicitor and the bank from which the loan is to be made. The above paragraph should not be interpreted as anything more than a statement as to our understanding of the law. Very truly yours, J. SHANE CREAMER, Attorney General.