Source: SDCL, §§ 13-16-6, 13-16-6.1, 13-16-6. The capital outlay fund of the school district is a fund provided by law to meet expenditures which result in the acquisition or lease of or additions to real property, plant, or equipment. Such an expenditure shall be for land, existing facilities, improvement of grounds, construction of facilities, additions to facilities, remodeling of facilities, or for the purchase or lease of equipment. It may also be used forThe board of a school district may expend moneys from the capital outlay fund for: (1) Any expenditures that are required as enacted the result of the acquisition or lease of or additions to real property, plant, or equipment; (2) Land, existing facilities, improvement of grounds, construction of facilities, additions to or remodeling of existing facilities; (3) Any installment or lease-purchase payments for the made to purchase of any real property, plant, or equipment, which have that has a contracted terminal date not exceeding twenty years from the date of the installment contract or lease-purchase and for the; (4) The payment of the: (a) The principal of and interest on capital outlay certificates issued pursuant to § 13-16-6.2; (b) Any premium for a property insurance policy held by SL 1978, ch 109, §§ 1, 2; SL 1984, ch 43, the school district; (c) Up to fifteen percent of the amount of a transportation contract, if a school district contracts for student transportation; or (d) Up to fifteen percent of the amount required to reimburse mileage costs, if a school district reimburses for milage, pursuant to § 102B; SL 1988, ch 140, 13-30-3, in lieu of providing transportation; (5) The purchase of: (a) Warranties on capital assets, provided that the warranties do not include or require supplies; or (b) Textbooks; (6) The purchase or renewal of instructional software; or (7) The purchase or lease of equipment. Any purchase of that does not exceed one thousand dollars or less may be paid out of the general fund. The total accumulated unpaid principal balances of such an installment contracts contract and lease-purchase, and the outstanding principal amounts of such any capital outlay certificates, may not exceed three percent of the taxable valuation. The school district shall provide a sufficient levy each year under the provisions of § 4. 13-16-7 to meet the annual installment contract, lease-purchase, and capital outlay certificate payments, including interest. A school district which contracts its student transportation may expend from the capital outlay fund an amount not to exceed fifteen percent of the contract amount. In addition, a school district which reimburses for mileage instead of providing transportation pursuant to § 13-30-3, may use the capital outlay fund to pay for fifteen percent of its mileage reimbursement costs. The capital outlay fund may be used to purchase textbooks and to purchase or renew instructional software. The capital outlay fund may be used to purchase warranties on capital assets if the warranties do not include supplies. A The board of a school district may transfer from its capital outlay fund to its general fund an amount not to exceed forty-five percent of the total tax revenues deposited in that fund during the current school fiscal year. 25