3. No transfer may be made under this section from appropriations or surplus accounts for:
a. Interest and debt redemption charges;
b. Capital reserve account;
c. Items classified as general fund expenses except to other items so classified, or to the capital projects fund to supplement the proceeds from a bond authorization or lease purchase agreement upon application to and a formal finding by the commissioner that the transfer is in the best interests of both the students and taxpayers of the district after consideration of alternative corrective actions.