Sec. 14.39.02.22. Non-Public School Use Exceeding 5 Years

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When the LEA uses more than 10 percent of a school building other than as a public school for more than 5 years and the State has debt remaining for bonds, the proceeds of which were used to construct or renovate that school, the IAC may require the LEA to pay a proportion of any lease proceeds and assume the remaining State debt, all calculated as of the date the LEA first began to use the school for purposes other than as a school.

                    
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