October 26, 2009
New Guidance on Using QSCB Proceeds to Refinance Prior Debt
ARRA INFORMATION FROM STATE SUPERINTENDENT PATRICIA I. WRIGHT
The Department of the Treasury has provided new guidance on the allowability of using the 2009 Qualified School Construction Bond (QSCB) proceeds to refinance existing debt or other interim financing arrangements. Specific conditions must be met in order to do so as outlined in the documents. As a reminder, the competitive applications for 2009 QSCB financing of school energy efficiency improvement projects are due to the Department of Education by November 11, 2009.
Information on the QSCB program and application process ( A revised application form incorporating this information is being posted to this site.)
###Also see complete information on the ARRA Competitive Grants section of this site.