SA-132 (Bond & Refunding Bond) and SA-135 (BAN) forms for borrowings with issue dates between July 1, 2022, and June 30, 2023, needed for the computation of the Statewide Average Interest Rate, are due no later than September 1, 2023, pursuant to Education Law 3602 (6). Statute requires districts to provide this information and it is critical to the calculation of a valid statewide average interest rate.
SA-132 forms must be submitted for Refunding Bonds and Energy Performance Contracts (EPC) as they are included in the Statewide Interest Rate Calculation. In addition, Refunding Bonds are required to be on file as part of the review and approval process for Interest Rate Reduction waiver applications.
Finally, SED requires borrowing information to be submitted in order to have a complete borrowing history. This helps SED to better identify and solve district problems or issues.
