(1)    In this section, a “long-term capital improvement plan” is a capital improvement plan for at least a 10-year period.

   (2)   A school board that has approved a long-term capital improvement plan may create a long-term capital improvement trust fund for the purpose of financing the costs of the capital improvements included in the school board’s approved long-term capital improvement plan.

   (3)   

      (a)    A school board may not expend money deposited in a long-term capital improvement trust fund created under sub. (2) for a period of 5 years beginning on the date the trust fund is created.

      (b)    After the 5-year period described in par. (a), a school board may make expenditures from a long-term capital improvement trust fund solely for the purposes described in the school board’s approved long-term capital improvement plan and may not transfer money from a long-term capital improvement trust fund to any other school district fund.