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„STAB PUBLIC SCHOOLS OF NORTH CAROLINA <br />~a(( ~ ~ }~. STATE BOARD OF EDUCATION William C. Harrison, Ed.D., Chairman and Chief Executive Officer <br />;~l ,= - lx;: <br />~` ~ /c~~~ DEPARTMENT OF PUBLIC INSTRUCTION June St. Clair Atkinson, Ed.D., State Superintendent <br />,..,~~r,;.~•. <br />"-•'°~wr~~°"-• WW~V.NCPUBL[CSCHOOLS.ORG <br />MEMORANDUM <br />TO: Public School Superintendents <br />Chairs of County Boards of Commissioners <br />FROM: Philip W. Price, Chief Financial Officer <br />Benjamin J. Matthews, PhD., Director, School Support Division <br />DATE: June 25, 2009 <br />SUBJECT: Qualified School Construction Bonds <br />We are pleased to inform you that zero or low interest bond availability has been allocated <br />to your LEA for the 2009 Qualified School Construction Bonds program (QSCB). The <br />QSCBs are new bonds established as part of the American Recovery Reinvestment Act of <br />2009 (Public Law 111-5) (ARRA) effective February 17, 2009. QSCBS are for the specific <br />use of construction (both new and additions), rehabilitation or repair of a public school, or <br />for land acquisition in conjunction with the previous. <br />The enclosed packet of materials will explain Qualified School Construction Bonds, <br />provide information and cite additional sources, and offer instructions for utilizing this <br />financial resource for schools within your jurisdiction. Pay particular attention to the <br />stated deadlines as the procedure for issuing these bonds is time sensitive. Feel free to <br />request additional clarification from Dr. Ben Matthews, Director of School Support, at <br />(919) 807-3501 or Mary Gruebnau, School Planning at (919) 807-3556. <br />PWP/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 Officer ~ pprice@dpi.state.nc.us <br />6326 Mail Service Center, Raleigh, North Carolina 27699-6326 ~ (919) 807-3600 ~ Fax (919) 807-3604 <br />AN EQUAL OPPORTUNITY/AFFIRMATIVE ACTION EMPLOYER Attachment number 3 <br />Page 147 of 315 <br />F-7 <br />