The Central Community School Board shall require that any school contemplating entering into a bank loan, installment obligations, lease agreements or any other financing agreement have approval of the Superintendent or designee before entering into any such obligation. Any school wishing to obtain permission for any indebtedness shall submit a Request for School Loan form in accordance with the following procedures:
Written requests to enter into debt obligations shall include
justification, amount, security required and terms of loan, installment
obligation, or lease agreement, and shall be addressed to the Superintendent
or his/her designee. Plans for repayment shall also be
The Superintendent or designee shall review the request based
upon information presented and either disapprove or tentatively approve
it. Final approval shall be dependent on the school's financial
status and history regarding repayment plans.
Copies of all approved requests along with completed copies
of the debt instrument shall be maintained in the School Board's business
Any school loan request shall be submitted by the Superintendent or his/her designee to the State Bond Commission if these debt obligations are more than ninety (90) days.
Ref: La. Rev. Stat. Ann. §§17:87.6, 17:158.6, 33:2923, 33:2923.1, 33:4712.7, 39:1410.60
Central Community School Board