Purpose of loan

An open-enrollment public charter school may borrow and the Division of Public School Academic Facilities and Transportation may lend money from the Open-Enrollment Public Charter School Facilities Loan Fund for: (1) The construction, lease, or purchase of an academic facility; (2) The repair, improvement, or addition to an academic facility; or (3) Credit enhancement for financing academic facility projects under subdivision (1) or subdivision (2) of this section. Added by Act 2013, No. 1255,§ 1, eff. 8/16/2013. An open-enrollment public charter school may borrow and the Division of Public School Academic Facilities and Transportation may lend money from the Open-Enrollment Public Charter School Facilities Loan Fund for: (1) The construction, lease, or purchase of an academic facility; (2) The repair, improvement, or addition to an academic facility; or (3) Credit enhancement for financing academic facility projects under subdivision (1) or subdivision (2) of this section. Added by Act 2013, No. 1255,§ 1, eff. 8/16/2013.