§ 1718. Limitation upon expenditures. 1. No board of education shall
incur a district liability in excess of the amount appropriated by a
district meeting unless such board is specially authorized by law to
incur such liability.

2. Notwithstanding the provisions of subdivision one of this section,
grants in aid received from the state and federal governments for
specific purposes, other state grants in aid identified by the
commissioner for general use as specified by the board of education,
other gifts which are required to be spent for particular objects or
purposes and insurance proceeds received for the loss, theft, damage or
destruction of real or personal property, when proposed to be used or
applied to repair or replace such property, may be appropriated by
resolution of the board of education at any time for such objects or
purposes.