State Borrowing

ORS 286A.800
School capital matching bond program

  • rules

(1)

The State Board of Education shall establish by rule a program to provide school districts with matching fund grants or loans for the capital costs of school districts financed with the net proceeds of Article XI-P bonds issued under ORS 286A.796 (Definitions for ORS 286A) to 286A.806 (School Capital Matching Fund). The state board shall establish, by rule, ratios for matching local moneys with grants, and ratios for matching local moneys with loans.

(2)

The Department of Education, subject to rules adopted by the state board:

(a)

May provide matching funds only to a school district that has received voter approval for local general obligation bonds to finance capital costs.

(b)

May not provide financing through grants or loans to finance operating costs of school districts. [2011 c.699 §3]
Source

Last accessed
May 26, 2023

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