Credit Enhancement Program; establish to improve credit worthiness of schools.

Summary

The bill would let the state guarantee the principal and interest on new school district general obligation bonds, helping districts borrow at lower rates. It sets procedures for districts to request a guarantee certificate, outlines the roles of tax collectors, paying agents and the state treasurer, and requires districts to repay the state with interest and penalties. The program is intended to reduce borrowing costs for schools and, ultimately, taxpayers.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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