Oklahoma Administrative Code
Title 210 - State Department of Education
Chapter 40 - Grants and Programs-In-Aid
Subchapter 83 - Qualified Zone Academy Bonds
Section 210:40-83-3 - Procedures for solicitation and acceptance of district applications

Universal Citation: OK Admin Code 210:40-83-3

Current through Vol. 42, No. 1, September 16, 2024

(a) A notification letter will be sent by the State Department of Education to each district superintendent or elementary superintendent announcing the availability of the application forms for Qualified Zone Academy status.

(b) The notification will clearly state the name and telephone number of the contact person at the Department who administers the program.

(c) The signature of the superintendent of the local education agency must appear on the application.

(d) The application and three copies must be submitted to the contact person. A specific deadline will be clearly stated in the application solicitation letter. This date may vary from year to year depending upon availability of funds.

(e) The applications will be accepted and funds allocated on a first-come, first-served basis.

(f) Applications must be fully completed and satisfy all criteria in order to be considered.

(g) All applications must include the following:

(1) Public school must be located in an empowerment zone or enterprise community OR have 35 percent of the students (or participants in the program) must be eligible for free or reduced-cost lunches under the Federal school lunch program.

(2) The school must enter a public-private partnership.

(3) The academic program of the school must be designed in cooperation with business to enhance the academic curriculum, increase graduation and employment rates, and better prepare students for the rigors of college and the increasingly complex work force.

(4) The school must have commitments for substantial business support and qualified contributions of at least 10 percent of the capital provided. Qualified contributions include: equipment for use in the school, technical assistance in developing the curriculum or in training the teachers, services of employees as volunteer mentors, internships, field trips, or other educational opportunities outside the academy, or other property or service specified by the local school board.

(5) Ninety-five percent or more of the proceeds of the issue must be used for a qualified purpose.

(6) The issuer of the bond or loan must certify that it has written assurances that the private business contribution requirement will be met with respect to the school.

(7) The issuer of the bond or loan must certify that it has the written approval of the local school board for the issuance.

(h) The maximum bonding amount which can be requested under the Qualified Zone Academy Bond program is $1,000,000.

(i) After evaluation, the State Superintendent will recommend to the State Board of Education those applications which have been determined to be eligible for funding.

Added at 15 Ok Reg 4273, eff 9-3-98 (emergency); Added at 16 Ok Reg 1755, eff 6-11-99

Disclaimer: These regulations may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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