(1) When any unfunded or delinquent indebtedness exists against the district general school fund or when any other type of unfunded, legally-incurred school indebtedness exists, it shall be the duty of the superintendent to prepare and the school board to approve a plan for retiring this indebtedness in accordance with the provisions of Florida Statutes § 1011.16, and to submit such a plan to the Commissioner for consideration.
    (2) It shall be the duty of the Commissioner to assist and cooperate with the superintendent and school board in any district in which any unfunded or delinquent indebtedness exists, making recommedations regarding the plan, including determining funds necessary to operate and determining what remaining funds are available to retire debt and proposing any necessary modifications to the plan.
    (3) The district school board shall not attempt to retire any such debt until the Commissioner has proposed recommendations.
Rulemaking Authority 1001.02(1), 1011.16 FS. Law Implemented Florida Statutes § 1011.16. History-New 2-18-74, Repromulgated 12-5-74, Amended 9-6-78, Formerly 6A-1.38, Amended 12-20-11.