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90_SB1599ham003
LRB9010085THpkam01
1 AMENDMENT TO SENATE BILL 1599
2 AMENDMENT NO. . Amend Senate Bill 1599, AS AMENDED,
3 with reference to the page and line numbers of House
4 Amendment No. 2, on page 5, by replacing lines 27 through 29
5 with the following:
6 "school district shall be required to be repaid, with simple
7 interest over the term of the loan at a rate equal to 50% of
8 the discount rate on one-year United States Treasury Bills as
9 determined by the last auction of those one-year bills that
10 precedes the date on which the district's loan is approved by
11 the State Board of Education at the rate of 4%, not later
12 than the date the Financial Oversight Panel ceases to exist.
13 The Panel shall".