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School Loan Revolving Fund

Program Requirements

Borrowing for Debt Service

  • A district may request a loan from the state for the additional
    A district may request a loan from the state for the additional portion of the funds required to make full debt service payment rather than increase its current debt millage. Funds are disbursed to the district before the May and November debt service payments.

  • Semi-Annual Application

Debt Service Repayment

  • While loan repayment is deferred until the required debt millage yields enough to pay the district's debt service obligations, interest accumulation does begin once funds are disbursed.While loan repayment is deferred until the required debt millage yields enough to pay the district's debt service obligations, interest accumulation does begin once funds are disbursed.