The Superintendent of Public Instruction shall establish a revolving loan fund to provide loans to child care and development contracting agencies for capital outlay not to exceed 2 percent or two thousand dollars ($2,000), whichever is greater, of the agency’s contract amount. These loans shall be available with no interest and shall be used to renovate and repair child care facilities to meet state and local health and safety standards.
(Amended by Stats. 1982, Ch. 209, Sec. 13.5. Effective May 20, 1982.)
Terms Used In California Education Code 8277.2
- Capital outlay: means the amount paid for the renovation and repair of child care and development facilities to comply with state and local health and safety standards, and the amount paid for the state purchase of relocatable child care and development facilities for lease to qualifying contracting agencies. See California Education Code 8208
- Contract: A legal written agreement that becomes binding when signed.