53G-5-609. Limitation on participation in Charter School Credit Enhancement Program.
| (1) |
In accordance with Subsection (2), on or before January 1 of each year, the authority shall determine the credit enhancement program‘s bond issuance limitation. |
Terms Used In Utah Code 53G-5-609
- Authority: means the Utah Charter School Finance Authority created by this part. See Utah Code 53G-5-601
- Charter school: means a school created under this chapter. See Utah Code 53G-5-601
- Credit enhancement program: means the Charter School Credit Enhancement Program established in Section 53G-5-606. See Utah Code 53G-5-601
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
| (2) |
The authority may not issue bonds for a qualifying charter school under the credit enhancement program if the total par amount outstanding under the program would exceed an amount equal to the product of:
| (b) |
an amount equal to the quotient of:
| (i) |
annual charter school enrollment; divided by |
| (ii) |
annual state enrollment; and |
|
| (c) |
the total par amount then outstanding under the school bond guarantee program established in 8. |
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Renumbered and Amended by Chapter 3, 2018 General Session
