Utah Admin. Code R277-480-5 - Charter School Revolving Account Committee Recommendations and Board Approval
(1) The Charter
School Revolving Account Committee shall make recommendations to the State
Charter School Board and the Board only upon receipt of complete and
satisfactory information from the applicant and upon a majority recommendation
from the Charter School Revolving Account Committee.
(2) The submission of intentionally false,
incomplete or inaccurate information from a loan applicant may result in:
(a) immediate cancellation of any previous
loan;
(b) the requirement for
immediate repayment of any funds received;
(c) denial of subsequent applications for a
12 -month period from the date of the initial application; and
(d) a recommendation to a school's authorizer
to consider revocation of the school's charter.
(3) The Superintendent and Executive Director
shall review recommendations from the Charter School Revolving Account
Committee.
(4) The Charter School
Revolving Account Committee shall submit recommendations for loan funding to
the State Charter School Board for review.
(5) The State Charter School Board shall
submit final recommendations to the Board no more than 90 days after submission
of all information and materials from the loan applicant to the Charter School
Revolving Account Committee.
(6)
Either the State Charter School Board or the Board may request additional
information from loan applicants or the Charter School Revolving Account
Committee.
(7) The Board's approval
or denial of a loan application constitutes the final administrative action in
the charter school building revolving loan process.
Notes
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