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What happens to the interest that was earned on the investment of temporary borrowing and bond proceeds?

April 26, 2017Bond Borrowing earned happens Investment proceeds Temporary

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What happens to the interest that was earned on the investment of temporary borrowing and bond proceeds?

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School Administrative Units are required to return the State’s share of net interest income earned from investment of project funds to the Department. Refer to Section 11 (6) of the Rules for Major Capital School Construction Projects regarding interest earned on investments.