16 ncac 06h .0111         qualified zone academy bonds

(a)  Every public school shall be eligible to participate as a qualified zone academy if it meets the requirements set forth in 26 U.S.C. 1397E(d)(4).

(b)  The minimum amount of bonding authority that the SBE shall allocate to a qualified zone academy shall be five hundred thousand dollars ($500,000.00).

(c)  Each application for authority to issue qualified zone academy bonds shall be executed by both the LEA and the county board of commissioners.


History Note:        Authority G.S. 115C-489.6; 150B-21.1(a7)(2);

Temporary Adoption Eff. January 1, 2001;

Eff. July 18, 2002.