Qualified Zone Academy Bonds
– allow certain qualified schools to borrow at nominal interest rates for specific costs.
How did we qualify?
At least 35% free/reduced lunch – we are over 70%
10% Matching Partner – we are partnered with the National Education Foundation
How much did we qualify for?
We were approved for $9.59M based on qualifying projects estimated costs.
Why is DeSoto ISD seeking QZAB funding?
Qualified Zone Academy Bonds – Government debt instrument for certain qualified schools to borrow at
nominal interest rates
for specific costs; the QZAB program helps school districts save money and make their dollars go further.
We have facility renovation, technology and curriculum needs plus teacher training needs beyond our current budget allocations. Many of these are foundation-type, one-time costs – non-recurring such as salaries. QZAB allows us to borrow at a nominal interest rate to pay for these needs now before the costs for replacement later get out of hand.
QZAB is a finite amount of money ($9.5M), specifically tagged for renovations, technology & equipment, energy efficiency and teacher training; that must be spent in three years.
Our students deserve more now – not once legislation makes a funding change or voters approve a TRE.
What will the funds be used for?
Funds can only be used for:
Technology and Equipment
Curriculum (STEM Academies)
Teacher Training / Professional Development
What is QZAB?
DeSoto ISD QZAB Q&A
DeSoto ISD QZAB PPT
DeSoto SID QZAB Scope of Work