Public Charter School Credit Enhancement Fund Committee (CDCR 26A-2600)
Total public member: 3
Method of Appointment: Appointed by Mayor
Length of Appointment: 3 years
Residency: Strong preference for DC residents from all 8 wards
Paid board: No (all roles are voluntary)
The Office shall have the following three functions:
(1) To administer the credit enhancement fund for public charter schools under section 603(e) of the Student Loan Marketing Association Reorganization Act of 1996 (20 U.S.c. 1155(e)), subject to the provisions of such section.
(2) To administer the Direct Loan Fund for Charter School Improvement under § 38-1833.02, subject to the provisions of such section.
(3) To develop, implement and provide oversight for other public charter school financing programs and support services as requested by the Mayor and the Council of the District of Columbia.
Each member of the Committee shall be appointed for a term of three (3) years, except as provided in subsection B of this section, and shall serve thereafter until his or her successor is appointed. B. A member appointed to fill a vacancy in an unexpired term shall be appointed for the remainder of the unexpired term and shall serve thereafter until his or her successor is appointed. C. A member of the Committee may be re-appointed but shall serve no more than two (2) consecutive terms. For the purposes of this provision, a member appointed to fill a vacancy for an unexpired term of more than two (2) years shall be deemed to have served a full term. D. Members of the Public Charter School Credit Enhancement Fund Committee serving on the effective date of this Order shall become members of the Committee and shall serve on the Committee for the remainders of their previously appointed terms. Such members may be reappointed to the Committee, subject to paragraph C of this section. For the purposes of paragraph C of this section, a term served on the Public Charter School Credit Enhancement Fund Committee shall not be deemed to be a term on the Committee; provided, if the remainder of the term of a member of the Public Charter School Credit Enhancement Fund Committee is more than two (2) years at the time the member becomes a member of the Committee, that term shall be deemed to be a term on the Committee.