The purpose of this memorandum is to announce the renewal of the Qualified Zone Academy Bond (QZAB) program for the years 2002 and 2003. Both the current application and the Rules and Regulations Governing the Allocation of Qualified Zone Academy Bonds are posted to the Arkansas Department of Education's website http://arkedu.state.ar.us. To access these documents click on "Directory and Programs" on the left side of the screen and then click "School Loans and Bonds" under "Public School Finance and Administration". The Loans and Bonds Unit will begin accepting applications for 2002 QZAB allocations immediately. The Arkansas share of the federal limitation is $5.589 million. The deadline for submission of QZAB applications for the upcoming allocation cycle is July 15, 2002. The State Board of Education will consider these applications at the August 12, 2002 meeting.
For questions or additional information, please call Cindy Chaney at (501) 682-4494.