QZAB Applications AvailableMonday, April 1, 2013, 2:33 pm
The application period for QZABs is now open. The Montana Office of Public Instruction (OPI) has $2,358,000 in QZAB authority to allocate to Montana school districts. Please note that an approved QZAB request does not result in any payment from the OPI to an applicant school district. An approved allocation request allows a school district to designate a future bond issuance as a QZAB, which allows the school district to benefit from the reduced interest costs.
The OPI has selected criteria that we believe are most likely to result in the successful sale of QZABs. Priority for application approval will be applied in the order shown below.
- District has available debt capacity to support requested QZAB allocation request
- District has already received voter approval to issue bonds, and would like to designate those bonds as QZABs.
- District intends to issue without the need for voter approval (must indicate this on application and describe how the debt obligation will be funded).
- Districts with the earliest election dates indicated on the application.
The application and full QZAB application letter can be found on the OPI School Finance Webpage at http://opi.mt.gov/Finance&Grants/schoolfinance/Index.html#gpm1_14. If interested, please complete the application and submit to the OPI. Please read the application carefully to take note of specific requirements of the program.
For more information, contact Nicole Thuotte, (406) 444-4524