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Page 2 of 4 <br />Vicki McConnell; Bill Block; Vicki Hogsed; Chris Crepps; Rita James; Paul Ijames; Amy Cannon; Sandra Hill; <br />Robin West; George Quick; JoAnne Harrell; Bill Bradley; Dolores Love; Shawna Wooten; Reid Baker; Susan <br />Blumenstein; Melissa Moore-Freeman; Donna Coffey; Sheri Small; Will Massie; Kellie Blue; Michael Apple; Toby <br />Hinson; Julia Edwards; Betty Taylor; Kai Nelson; Johnna Rogers; Barry Mayo; Bobbie Faircloth; Richard <br />Hemphill; David Clawson; Jane Kiker; Teresa Lanier; Sandy Pittman; Paul Fulton; Charles Murray; Michael Felts; <br />Gene Minton; Linda Taylor; Sylvia Blinson; Julie Davis; J. Carey McLelland; Robbin Stephenson; Garvin <br />Ferguson; Carl Classen; Jessica Gibbs; Darlene Fox; John Massey; Lisa Minter; Leon Harmon; Evelyn Southard; <br />Darlyne Rhinehart; Mavis Parsley; Cindy Ange; Alison Morgan; Dena Diono; Deva Swinson; Lisa Highes; Lynne <br />Anderson; Dorris Isaacs; Dorothy Vick; Kim Crisp; Lisa Jones; Lydia Haggard; R.M. Steagall; Tim Greene; Avril <br />Pinder; Barbara McClure; Cam Griffin; Alvin Barrett; David McCore; Sharon Ward; Amy Wehrenberg; Melanie <br />Bryan; Sandra Hughes; Leslie Heidrick; Julie Scherer; David Clack; Kevin Patterson; Joy Hines; Kevin King; Vida <br />Cody; Gay Poor; Willie Carawan; Steve Stanton; Gayle Critcher, Pam Halt; Jerry Shepherd; Phyllis Vick; Sheron <br />Church; Mary Westphal; Brandi Burleson <br />Cc: Ben Matthews; Roger Ballard; Steve Taynton; Teri Atkins; rebecca.troutman@ncacc.org; <br />Dianne. Kelly@nctreasurer.com; vance.holloman@nctreasurer.com <br />Subject: Qualified School Construction Bond Issuance Extension <br />MEMORANDUM <br />TO: Public School Superintendents <br />Chairs of County Boards of Commissioners <br />FROM: Dr. Benjamin J. Matthews <br />Director, School Support <br />DATE: October 8, 2009 <br />SUBJECT: Qualified School Construction Bond Issuance Extension <br />It has come to our attention that many LEAs have had difficulty in securing a lender for these <br />bonds. To date on a nationwide basis, the bonds have been purchased by only a handful of <br />buyers, and none by North Carolina banks. With the tight deadlines and lack of buyers <br />available, the Superintendents Bond Advisory Council has decided to, in essence, grant <br />extensions to those LEAs who are actively seeking buyers and working towards bond <br />issuance. <br />The federal law states that all 2009 allocations not issued in 2009 will be returned to the state <br />for re-allocation. This extension will allow the state to take each LEA's 2009 allocation and <br />re-allocate this same bonding authority in the same amount to each LEA in 2010- This will <br />allow each LEA to continue, without delay, the process of planning for bond issuance and <br />construction of the projects they already have approved and without jeopardizing their <br />potential bond funds <br />Any LEA that is actively in the process of issuing bonds that may not make the December <br />31 st deadline should send a letter to School Planning that states they are in the bond issuing <br />process and expect to be able to issue the bonds in 2010. This way School Planning can <br />identify these bonding authorities which will be re-allocated in 2010 to be issued by December <br />31. 2010. <br />10/8/2009 <br />