North Dakota Administrative Code
Title 67 - Public Instruction, Superintendent of
Article 67-10 - School Construction Loan Application and Loan Approval
Chapter 67-10-03 - School Construction Loan Application and Loan Approval - School Construction Assistance Revolving Loan Fund
Section 67-10-03-02 - Loan eligibility

1. Obtain project approval from the superintendent pursuant to North Dakota Century Code section 15.1-36-01.

2. Propose a project for new construction or remodel with a cost of at least one million dollars and expected utilization of at least thirty years.

3. Publish information in the official newspaper regarding additional millage and dollar increase per one thousand dollars of taxable valuation along with the:

4. Post notice of the information on the district website.

5. Receive authorization for a bond issue under North Dakota Century Code chapter 21-03.

6. The board must submit a completed application to the Bank of North Dakota.

7. A district with a school construction loan secured on the open bond market may apply to refinance the loan when callable with the school construction assistance revolving loan fund.