Section R7-6-505. Constructing Bond-Funded Schools on Land Funded by the School Facilities Board

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A. A school district that acquires land by sale or lease pursuant to

A.R.S. § 15-2041 may construct a school facility on that land using Class A bonds. The square footage of the new facility shall be included in the gross square footage of the school dis- trict for purposes of determining needs for additional square footage and building renewal distributions.

B. A school district that acquires land by sale or lease pursuant to

A.R.S. § 15-2041 may construct a school facility on that land using Class B bonds provided that the school district agrees in writing that when the school district qualifies for a new school funded by the School Facilities Board that the School Facili- ties Board will not provide funding for the lease or purchase of an additional site for that school. The square footage of the new facility constructed with Class B bond monies shall not be included in the gross square footage of the school district for purposes of determining needs for additional square footage and building renewal distributions.

Historical Note

New Section made by exempt rulemaking at 8 A.A.R.

287, effective June 7, 2001 (Supp. 01-4).

                    
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