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PUBLIC SCHOOLS OF NORTH CAROLINA <br />STATE BOARD OF EDUCATION William C.Harrison, Ed.D..Chairman and Chief Executive Officer <br />DEPARTDIENT OF PUBLIC INSTRUCTION June St. Clair Atkinson, Ed.D., State Superintendent <br />%VU'\V. NC PU U LI CSC I- 1001-S.ORG <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 2, 2009 <br />SUBJECT: Qualified School Construction Bond and Qualified Zone Academy Bond <br />Time Lines <br />Several LEAs have requested an outline of the steps that need to be followed during the <br />Qualified School Construction Bond and Qualified Zone Academy Bond programs. We <br />hope the following will help in this process. This timeline can also be found at <br />www.schoolcleariiighouse.oro. Questions may be directed to Mary Gruebnau, School <br />Planning at (919) 807-3556. <br />It has come to our attention that several LEAs have had some difficulty in securing a <br />lender for these bonds. To date on a nationwide basis, the bonds have been purchased <br />by only a handful of buyers, and none by North Carolina banks. For the latest information <br />on securing financing for these tax credit instruments, contact the State Treasurer's staff at <br />the Local Government Commission, 919-807-2350. <br />BJM/mkg <br />CC: LEA Finance Directors <br />County Finance Directors <br />LEA Maintenance Directors <br />OFFICE OF FINANCIAL AND BUSINESS SERVICES <br />Philip W. Price, Chief Financial Odcer I ppriccCa)dpi.state.nc.us <br />6326 Mnil Service Center, Raleigh, North Corolina 27699-6326 1 (919) 607-3600 1 Fax (919) 807-3604 <br />AN EQUAL OPPORTUNITY/AFFIRMATIVE ACTION EMPLOYER <br />