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Does the department need to approve all borrowing due to the delay in the June 8 and 22 state aid payments?

April 26, 2017aid approve Borrowing delay Department june 8 PAYMENTS State

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Does the department need to approve all borrowing due to the delay in the June 8 and 22 state aid payments?

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A – Yes, the department must approve all borrowing. Approvals will be granted upon written application and demonstration of need by the board. All approved loans will be repaid by the department to the lending bank from the district’s state aid payment.