Even some trustees, like Milton Marks III, who don't outright oppose the reallocations say the money was moved without the board getting proper information from the administration.
City College is too important an institution to have its future (and the needs of the students and faculty) jeopardized by these kinds of political games. The board's performance audit needs to move forward apace and the trustees ought to hire someone like Harvey Rose to do a full financial audit of where the money's gone, why the budget is so badly busted, and what can be done to clean it up.
If the district attorney is investigating possible wrongdoing in some of the campaigns, she might have her staff look into the bond reallocations too. And if indeed this is all legal, then the state Legislature needs to change the law and require that institutions using bond money pay at least a modicum of attention to what the voters were promised when it comes time to start writing checks. *