The Acadia Parish School Board shall require that any school contemplating entering into a bank loan, installment obligations, lease agreements or any other financing agreement have approval of the Superintendent or designee before entering into any such obligation.  Any school wishing to obtain permission for any indebtedness shall submit a Request for School Loan form in accordance with the following procedures:


  1. Written requests to enter into debt obligations shall include justification, amount, security required and terms of loan, installment obligation, or lease agreement, and shall be addressed to the Superintendent or his/her designee.  Plans for repayment shall also be detailed.

  2. The Superintendent or designee shall review the request based upon information presented and either disapprove or tentatively approve it.  Final approval shall be dependent on the school's financial status and history regarding repayment plans.

  3. Copies of all approved requests along with completed copies of the debt instrument shall be maintained in the School Board's business office.




The School Board shall authorize a revolving school loan program within Acadia Parish whereby a school may request a loan from the Board, subject to a per school maximum of $25,000 and a parish-wide maximum of $100,000. Schools shall submit a Report for School Loan, outlining the project to the School Board for review by the Budget and Finance Committee and approval of the School Board.  Such loans shall only be used for capital outlay, improvements, or renovation and the project request submitted must detail plans of how the school will pay off the loan over five (5) years maximum with no interest. Schools shall be required to have at least one-half (1/2) of the estimated project cost available at the time the project request is submitted.  Schools shall be bound by the terms of the project request once approved by the School Board regardless of change in school-level administrators or contributing organizations.


Revised:  December, 2002



Ref:    La. Rev. Stat. Ann. ยงยง17:81, 17:158.6, 33:2923, 33:4712.7, 39:1410.60

Board minutes, 12-2-02


Acadia Parish School Board