C.R.S. Section 22-43.7-110.5
Charter school matching moneys loan program

  • rules
  • definitions

(1)

As used in this section, unless the context otherwise requires:

(a)

“Eligible charter school” means a charter school that is:

(I)

A qualified charter school as defined in section 22-30.5-408 (1)(c); and

(II)

Authorized to receive financial assistance pursuant to section 22-43.7-109 (7).

(b)

“Loan program” means the charter school matching moneys loan program created in this section.

(2)

Intentionally left blank —Ed.

(a)

There is hereby created the charter school matching moneys loan program to assist eligible charter schools in obtaining the matching moneys required for an award of financial assistance pursuant to section 22-43.7-109. Through the loan program, the board may approve a loan for an eligible charter school in an amount that does not exceed fifty percent of the amount of matching moneys calculated for the eligible charter school pursuant to section 22-43.7-109 (9)(c).

(b)

The board shall direct the state treasurer to include the amount of a loan approved pursuant to this section in the financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 (2) to provide financial assistance to the eligible charter school for which the loan is approved.

(3)

An eligible charter school that chooses to seek a loan through the loan program shall apply to the board to receive a loan. The board shall promulgate rules pursuant to the “State Administrative Procedure Act”, article 4 of title 24, C.R.S., establishing the contents of a loan application and the timelines and procedures for applying for a loan through the loan program.

(4)

To receive a loan through the loan program, an eligible charter school shall:

(a)

Authorize the state treasurer to withhold moneys payable to the eligible charter school in the amount of the loan payments pursuant to the procedure described in section 22-30.5-406;

(b)

Pay an interest rate on the loan that is equal to the interest rate paid by the state treasurer on the financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 to provide financial assistance to the eligible charter school for which the loan is approved;

(c)

Amortize the loan payments over the same period in years as the financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 to provide financial assistance to the eligible charter school for which the loan is approved; except that the eligible charter school may pay the full amount of the loan early without incurring a prepayment penalty; and

(d)

Create an escrow account for the benefit of the state with a balance in the amount of six months of loan payments.

Source: Section 22-43.7-110.5 — Charter school matching moneys loan program - rules - definitions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-22.­pdf (accessed Oct. 20, 2023).

22‑43.7‑101
Short title 22‑43.7‑102
Legislative findings and declarations 22‑43.7‑103
Definitions 22‑43.7‑104
Public school capital construction assistance fund - creation - crediting of money to fund - use of fund - emergency reserve - creation - reserve account - creation and use 22‑43.7‑105
Division of public school capital construction assistance - creation - director - function - powers and duties 22‑43.7‑106
Public school capital construction assistance board - creation - general powers and duties - rules 22‑43.7‑107
Public school facility construction guidelines - establishment by board - use 22‑43.7‑108
Statewide financial assistance priority assessment - public school facilities 22‑43.7‑109
Financial assistance for public school capital construction - application requirements - evaluation criteria - local match requirements - technology grants - career and technical education capital construction grants - rules - definitions - repeal 22‑43.7‑110
Financial assistance - grants - financed purchase of an asset agreements 22‑43.7‑110.3
Department - charter school facilities assistance account - distribution - definitions 22‑43.7‑110.5
Charter school matching moneys loan program - rules - definitions 22‑43.7‑111
Reporting requirements - auditing by state auditor 22‑43.7‑112
Attorney general as legal advisor 22‑43.7‑113
Colorado school for the deaf and blind - special rules 22‑43.7‑114
Capital construction assistance awarded for fiscal year 2007-08 - continued payment 22‑43.7‑115
Tax increases not required 22‑43.7‑116
Open record and open meetings 22‑43.7‑201
Full-day kindergarten facility capital construction fund - creation - grants - definitions 22‑43.7‑202
Applications for grants and matching grants - rules 22‑43.7‑203
Full-day kindergarten facility capital construction projects - prioritization
Green check means up to date. Up to date

Current through Fall 2024

§ 22-43.7-110.5’s source at colorado​.gov