§ 53A-20b-204. Limitation on participation in Charter School Credit Enhancement Program.

Latest version.

(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.

(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:

(a)

1.3;

(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 Chapter 28, Utah School Bond Guaranty Act.

Enacted by Chapter 201, 2012 General Session

                    
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