|FROM:||Jo Lynne DeMary
Superintendent of Public Instruction
|SUBJECT:||Literary Fund Loans|
Section 3.4 of the Regulations Governing Literary Loans in Virginia (8 VAC 20-100-60) provides that applications for Literary Fund loans will not be approved by the Board of Education if the project already has been bid prior to receipt of the application in the Department of Education, except in the case of a documented emergency. "To Bid" is to issue the Invitation for Bid (IFB) (as defined in 11.37 of the Code of Virginia). The issuance date is the date when the project is advertised to the public.
Literary Fund Loan applications must be received in the Department of Education prior to the advertisement of bids. Neither the Board of Education nor the Superintendent of Public Instruction has the authority to waive this requirement. It is recommended that Literary Fund Loan applications be submitted to the department as soon as possible after a project is identified, preferably at least several months before the construction documents are completed, so approval of your project will not be delayed.
If you have any questions regarding this memorandum, please contact Dan Timberlake, assistant superintendent for finance, at (804) 225-2025, or June Eanes, director of support services, at (804) 225-2037.