Sec. 44-15. Authority to borrow up to five thousand dollars.

Should the necessary expenditures of the board of education exceed the bona fide estimate thereof to the extent of not exceeding five thousand dollars ($5,000.00), the two (2) preceding sections shall not be so construed as to prevent such board from anticipating its revenues from the next succeeding school year to the amount of such indebtedness of not exceeding five thousand dollars ($5,000.00) or prevent the council from taking into consideration any such possible or actual deficit to the extent of not exceeding five thousand dollars ($5,000.00) in making its levy for school purposes.