(a) An interest subsidy grant approved under sections 10-292c to 10-292n, inclusive, shall be paid in installments, the number and time of payment of which shall correspond to the number and time of interest installment payments on municipal bonds, including payments to retire temporary notes renewed for the third and subsequent years pursuant to section 7-378a or 7-378e issued for the purpose of financing the school building project to which such interest subsidy grant relates and shall be equal to the state's share of interest costs per interest installment on municipal bonds or notes, provided final payment shall not be made prior to an audit conducted by the State Board of Education. Annual interest subsidy grant installments paid pursuant to this section on interest installment payments to retire temporary notes renewed pursuant to said section 7-378a or 7-378e shall be paid only if at the time such temporary notes are renewed, the rate of interest applicable to such notes is less than the rate of interest that would be applicable with respect to twenty-year bonds if issued at the time of such renewal. The determination related to such rates of interest pursuant to this subsection may be reviewed and shall be subject to approval by the Commissioner of Education prior to renewal of such notes.
(b) If the commissioner determines that a school building project has not met the approved conditions of the original application, the State Board of Education may withhold subsequent state interest subsidy grant payments related to said school building project until appropriate action, as determined by the commissioner, is taken to cause the school building project to be in compliance with the approved conditions or may require repayment of all state interest subsidy grant payments for said school building project when such appropriate action is not undertaken within a reasonable time.
(P.A. 97-265, S. 92, 98.)
History: P.A. 97-265 effective July 1, 1997.
Structure Connecticut General Statutes
Title 10 - Education and Culture
Chapter 173 - Public School Building Projects
Section 10-282. - Definitions.
Section 10-283. - Applications for grants for school building projects.
Section 10-283a. - Committee from General Assembly to review listing of eligible projects.
Section 10-283b. - School building projects for the Technical Education and Career System.
Section 10-283d. - Federal funds as part of local share for projects in a priority school district.
Section 10-285. - Acceptance or rejection of allotment.
Section 10-285a. - Percentage determination for school building project grants.
Section 10-285c. - Title reversion to the state.
Section 10-285d. - Projects related to full-day kindergarten programs or reduction in class size.
Section 10-285e. - Reimbursement for lease costs. Renovation project requirements.
Section 10-285f. - Design-build projects: Pilot program.
Section 10-285g. - Acoustical standards. Waiver.
Section 10-285h. - Projects for charter schools: Pilot program.
Section 10-286. - Computation of school building project grants.
Section 10-286a. - Grants for occupational training facilities.
Section 10-286c. - Establishment of criteria for building grants.
Section 10-286d. - Site-acquisition grant.
Section 10-286g. - Waiver of audit deficiencies.
Section 10-286h. - School building project grants for diversity schools.
Section 10-287a. - Lump sum payments. Advance payment of grants. Overpayment.
Section 10-287c. - Regulations.
Section 10-287d. - Bond issue for school building project grants.
Section 10-287e. - School Building Construction Fund.
Section 10-287f. - Renewal of temporary notes outstanding.
Section 10-287j. - Bond issue for funding interest subsidy grants.
Section 10-288. - Grants and loans to towns unable to complete projects.
Section 10-288a. - Replacement or relocation of secondary school associated with center.
Section 10-289. - Issuance of bonds for school building project.
Section 10-289a. - Short-term financing for school building projects.
Section 10-289d. - Definitions.
Section 10-289e. - Private academy project proposal, public hearing, referendum vote.
Section 10-289f. - Loans. Bond issues. Guaranties.
Section 10-289g. - Defaults in payment. Withholding of state aid.
Section 10-289h. - Central kitchen facility projects.
Section 10-290. - Advisory school planning service.
Section 10-290a. - Advisory services re school plant planning.
Section 10-290b. - Publication and distribution of information.
Section 10-290c. - Advisory committee.
Section 10-290d. - Conveyance of air space over schools.
Section 10-290e. - Services agreements. Requirements. Prohibitions.
Section 10-290f. - Standard school construction contracts. Guidance for projects.
Section 10-291. - Approval of plans and site. Expense limit.
Section 10-291a. - Code compliance improvements not required in certain situations.
Section 10-292c. - Definitions.
Section 10-292d. - Interest subsidy grants.
Section 10-292g. - Percentage determination for interest subsidy grants.
Section 10-292h. - Interest subsidy grants to incorporated or endowed high schools and academies.
Section 10-292i. - Computation of interest subsidy grants.
Section 10-292k. - Bond issue for interest subsidy grants.
Section 10-292l. - Certification of dates and amounts of interest subsidy grant payments.
Section 10-292n. - Default by municipality or private academy.
Section 10-292o. - Leasing of facilities by regional educational service centers; grants.
Section 10-292p. - School-based health clinic. Entrance requirement.
Section 10-292q. - School Building Projects Advisory Council.
Section 10-292r. - School safety infrastructure criteria.
Section 10-292s. - School building project safety assessment.
Section 10-292t. - Standard checklist for school building projects.