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Funding Facts

 

Qualified School Construction Bond

Posted: July 10, 2009

Funding Source: CA Dept of Education

Eligible Applicants: Local educational agencies

Required Eligibility Criteria: All LEAs except the eleven direct authorized districts will be eligible for the first authorization cycle. Charter schools will apply for allocations through the California State Treasurer, California School Finance Authority. If there is authorization remaining, a second authorization cycle will be considered after October 1, 2009.The second round authorization cycle will also be open to the eleven direct authorized districts and first round authoirzation awardees up to the $25,000,000 cap.

Funding Description: Qualified School Construction Bonds (QSCB) offers local educational agencies (LEAs) the ability to sell tax-exempt bonds and use the revenue, essentially a loan, for construction of public school facilities, rehabilitation or repair of school facilities, acquisition of land on which public school facilities will be constructed with proceeds of issuance, or to purchase equipment related to the project(s) constructed or rehabilitated with the proceeds of issuance.

View at http://www.cde.ca.gov/fg/fo/profile.asp?id=1656.