Tag Archives: School Bond
School Bond requirement in Kansas
09/03/2011HB 2236: School Bond (Scholarship Program for Special Needs Children)
This bond is a school choice measure that has a scholarship program for special needs children. If schools would like to participate in this program, non-public schools would have to post a surety bond in an amount equal to the aggregate amount of the scholarships expected to be paid during the first school year. If the school does not want to post a surety bond a financial statement demonstrating the ability to pay such amounts would also be accepted.
Indiana Board of Education requires school bond for Turnaround Academies
09/03/2011HB 1479: Miscellaneous Bond – Schools
This bill will provide for the rehabilitation of schools failing to meet certain standards. Any schools that have been performing in the either of the two lowest categories for five years will be turned into a turnaround academy. Specific rules will be required to be set by the State Board of Education for the school. The school could be also operated by a specific management team that would have to provide a performance bond in an amount that the board would determine. The performance bond may be terminated if the goals for the school have been met after three years under the special management team.
$50,000 School Bond required for Indiana Professional Employer Organizations (PEO)
09/01/2011HB 1479: School Bond for Professional Employer Organizations
This bill will provide for the rehabilitation of schools failing to meet certain standards. Any schools that have been performing in the either of the two lowest categories for five years will be turned into a turnaround academy. Specific rules will be required to be set by the State Board of Education for the school. The school could be also operated by a specific management team that would have to provide a performance bond in an amount that the board would determine. The performance bond may be terminated if the goals for the school have been met after three years under the special management team.
Idaho Proprietary School Bonds
08/26/2011Idaho House Bill 36: Proprietary School Bond
Under this bill the surety bond for proprietary schools will be revised. Current law requires such schools to have a surety bond in the amount that the State Board of Education determines in rules. The bond must be in the amount no less than the total tuition and fees that the school collects from its students. This is for the period of the student’s instructional program at the school during the upcoming registration year. This new bill will permit the Board to accept a bond for a lower amount from newly registered schools for a period up to 5 years. This is so as long as the bond was supplemented by other financial instruments.