53G-5-609. Limitation on participation in Charter School Credit Enhancement Program.
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Effective 7/1/2025
53G-5-609. Limitation on participation in Charter School Credit Enhancement Program.
(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)2.0;
(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 4, Part 8, School District Bond Guaranty .
Amended by Chapter 369 , 2025 General Session