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STNE <br />PUBLIC SCHOOLS OF NORTH CAROLINA <br />STATE BOARD OF EDUCATION Howard N. Lee, Chairman <br />DEPARTMENT OF PUBLIC INSTRUCTION June St. Clair Atkinson, ED.D., State Superintendent <br />W%V\V.NCPUBLICSCHOOLS.ORG <br />June 4, 2010 <br />To: Will Crabtree, Director of Business Operations <br />Kannapolis City Schools <br />From: $ �j w�"- <br />Benjamin J. Matthews, PhD., j/" <br />Director, School Support Division <br />Re: 2009 and 2010 Allocation of Qualified School Construction Bond Authority (QSCB's) <br />The State Board of Education has approved the allocation of Qualified School Construction Bond authority as <br />follows: <br />A.L. Brown High School <br />Forest Park Elementary <br />Fred L. Wilson Elementary <br />Jackson Park Elementary <br />Woodrow Wilson Elementary <br />Kannapolis Intermediate School <br />$ <br />429,300 <br />$ <br />125,000 <br />$ <br />115,000 <br />$ <br />75,000 <br />$ <br />90,000 <br />$ 2.700,000 <br />Total $ 3,534,300 <br />The allocation is from North Carolina's 2009 and 2010 federal allocation; therefore, bonds representing the full <br />amount of the allocation must be issued no later than December 31, 2010. Ten percent of the bond proceeds must be <br />committed, by contract, with a third party within 6 months after date of bond issue. One hundred percent of the <br />proceeds must be spent within 3 years after date of bond issue. <br />Local officials will be responsible for determining whether the purposes for which QSCBs are issued conform to <br />state law regarding indebtedness. Further, local officials will ensure that the expenditure of bond proceeds are <br />consistent with federal and state regulations regarding QSCBs and with State Board of Education QSCB guidelines, <br />which can be found at www.schoolclearinghouse.org. Written notification must be provided to School Planning, <br />Division of School Support, within 15 days of bond issuance. Questions may be directed to Mary Spradling at (919) <br />807 -3556 or MSpradling @dpi.state.nc.us. <br />Best wishes for every success. <br />BJM /ms <br />cc: Mr. Steve Taynton, School Planning <br />Mr. Roger Ballard, School Planning <br />Ms. Dianne Kelly, Local Government Commission <br />OFFICE OF FINANCIAL AND BUSINESS SERVICES <br />Philip W. Price, Associate Superintendent i pprice a,dpi.state.ne.us <br />6326 Mail Service Center, Raleigh, North Carolina 27699 -6326 1 (919) 807 -3600 1 Fax (919) 807 -3604 <br />AN EQUAL OPPORTUNITY /AFFIRMATIVE ACTION EMPLOYER AOydgn <br />, W number 2 <br />G -4 <br />