OAR 581-027-0025: Oregon School Capital Improvement Matching Program Grant Restrictions

(1) A District that receives a State Matching Grant will be ineligible for additional State Matching Grant funds for six (6) years from the year in which the District successfully passed their Local GO Bond. (2) A District may not use State Matching Grant funds to refinance other general obligation bonds issued by the District. (3) A District must use State Matching Grant funds for capital costs as defined in ORS 286A.796(3). (4) A District may use State Matching Grant funds to reimburse the District for capital costs incurred by the District prior to the Funding Cycle in which the District was awarded a grant only if: (a) The Department approves the use of State Matching Grant funds for such purpose; and (b) The District complies with all requirements of the OSCIM Program. (c) The Department’s approval or disapproval of the use of State Matching Grant funds is final. (5) State Matching Grant funds shall be used only to match the proceeds of Local GO Bonds authorized by an election in the same Funding Cycle in which the District applied for State Matching Grant funds.