Sec.10-287c-14. Computation of grant estimates for projects submitted to the governor and general assembly (Reference: Section 10-283)

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(a) Grant estimates for projects other than limited eligible projects submitted to the Governor and General Assembly shall be determined by multiplying together the percentage as defined in sections 10-285a and 10-285b of the Connecticut General Statutes, with the total estimated costs of a project submitted to the department on the application for a proposed school building project.
(b) In computing interest grant estimates the department shall assume a twenty year bond issue and apply an average estimated bond interest rate based on market conditions as of July 1st of each year.

(Effective October 3, 1995)

                    
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