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.
| 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. |
| Other Eligibility Considerations |
If the program is oversubscribed, a lottery will be conducted by the CDE on August 28, 2009. If the program is not oversubscribed, applications will be reviewed and authorized in date and time order. Date order will be established by the postmark and/or date stamp when hand delivered to the CDE. |
| Eligible Grade Level(s) |
K, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
|
| Eligible Age Level(s) |
Not applicable
|
