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.