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§ 10170.18. Eligible Applicant.

4 CA ADC § 10170.18Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 4. Business Regulations
Division 15. California School Finance Authority
Article 1.6. Charter School Revolving Loan Fund Program
4 CCR § 10170.18
§ 10170.18. Eligible Applicant.
Currentness
An Applicant shall be eligible to apply for a loan if the following conditions are met:
(a) The Application is submitted by a Charter School or by a Chartering Authority.
(b) The Charter School shall not operate as, or be operated by, a for-profit corporation, a for-profit educational management organization, or a for-profit charter organization.
(c) The Charter School is established pursuant to Education Code section 47600 et seq.
(d) An approved charter has been awarded, is in place, and is current at the time of Application. In the case of a first year Charter School, the Applicant shall submit evidence that its charter petition has been submitted to a Chartering Authority for approval and that it anticipates beginning operations in the following fiscal year.
(e) If the Applicant is a Charter School applying on its own behalf, the Charter School shall be an Incorporated Charter School as demonstrated by Articles of Incorporation.
(f) The Charter School is not a conversion from an existing public school.
(g) The Charter School has not had its charter renewed as of the date of submission of its Application.
(h) The Charter School has no material legal issues.
(i) A Charter School may receive multiple loans. In no instance may a Charter School receive more than $250,000 in Program loans over the lifetime of the Charter School.
(j) The Charter School and/or Affiliated Organization, if applicable, are in compliance with all programs administered by the Authority.
(k) The Charter School is in Good Standing as described in Section 10170.17(j) during the fiscal year. An Applicant found not to be in Good Standing, as determined by their Chartering Authority, shall be ineligible for program funds. The Applicant may cure ineligibility for program funds by meeting one of the following criteria:
(1) The Applicant receives confirmation of Good Standing within the same fiscal year of application; or
(2) Applicants found not to be in Good Standing solely due to the Applicant failing to meet the requirements of Education Code Section 47607(f)(3) must provide evidence demonstrating fiscal solvency to the satisfaction of the Authority. Such evidence may include the Applicant's organizational budgets and audited financials.
(l) The Authority shall determine whether the Application is complete. If the Authority determines that additional information is needed, the Authority shall notify the Applicant and request such information. If the Applicant fails to provide the information as requested, the Applicant shall be ineligible for a Program loan.

Credits

Note: Authority cited: Section 41365, Education Code. Reference: Sections 41365 and 41366.5, Education Code.
History
1. New section filed 2-3-2014 as an emergency; operative 2-3-2014 (Register 2014, No. 6). A Certificate of Compliance must be transmitted to OAL by 8-4-2014 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 8-4-2014 as an emergency; operative 8-4-2014 (Register 2014, No. 32). A Certificate of Compliance must be transmitted to OAL by 11-3-2014 or emergency language will be repealed by operation of law on the following day.
3. New section refiled 10-27-2014 as an emergency; operative 11-3-2014 (Register 2014, No. 44). A Certificate of Compliance must be transmitted to OAL by 2-2-2015 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 10-27-2014 order, including amendment of subsections (f) and (h) and new subsection (j), transmitted to OAL 1-29-2015 and filed 3-10-2015; amendments effective 3-10-2015 pursuant to Government Code section 11343.4(b)(3) (Register 2015, No. 11).
5. Amendment of subsections (c) and (d), new subsection (h), subsection relettering and amendment of newly designated subsection (i) filed 12-1-2016; operative 12-1-2016 pursuant to Government Code section 11343.4(b)(3) (Register 2016, No. 49).
6. New subsection (b), subsection relettering, amendment of newly designated subsection (k) and new subsections (k)(1)-(2) filed 4-20-2020 as an emergency; operative 4-20-2020 (Register 2020, No. 17). A Certificate of Compliance must be transmitted to OAL by 10-19-2020 or emergency language will be repealed by operation of law on the following day.
7. Emergency filed 4-20-2020 extended 60 days (Executive Order N-40-20) (Register 2020, No. 22). A Certificate of Compliance must be transmitted to OAL by 12-18-2020 or emergency language will be repealed by operation of law on the following day.
8. Certificate of Compliance as to 4-20-2020 order transmitted to OAL 11-16-2020 and filed 12-30-2020 (Register 2021, No. 1).
This database is current through 4/12/24 Register 2024, No. 15.
Cal. Admin. Code tit. 4, § 10170.18, 4 CA ADC § 10170.18
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