OAR 581-023-0060: State Superintendent’s Approval of Bonded Debt for Nonstandard and Conditionally Standard School Districts

The State Superintendent of Public Instruction shall approve additional bonded indebtedness for a nonstandard or conditionally standard school district as described in ORS 328.205 when: (1) The purpose of the revenues is listed under ORS 328.280(1) and is included in the district’s plan to correct the deficiencies causing the nonstandard or conditionally standard status. (2) The district demonstrates that in contracting for bonded indebtedness it will not impair or delay its efforts in becoming a standard district.