FILE:  DM

Cf:  DEB

SCHOOL LOANS

The Orleans Parish School Board shall require all school-based installment obligations, lease agreements or other financing agreement to be approved by the Superintendent. In determining whether to approve such debt obligations, the Superintendent shall consider the school's financial status and history of repayment.

Copies of all approved requests along with completed copies of the debt instrument shall be maintained in Central Office.  The Superintendent or his/her designee shall submit a request to incur debt to the State Bond Commission if the debt obligation is for a period beyond ninety (90) days.

Ref:    La. Rev. Stat. Ann. §§17:81, 17:87.6, 17:158.6, 33:2923, 33:2923.1, 33:4712.7, 39:1410.60

Orleans Parish School Board