Level of Bonded Indebtedness [Education] Law and Legal Definition

According to 34 CFR 222.176 [Title 34 – Education; Subtitle B -- Regulations of the Offices of the Department of Education; Chapter II -- Office of Elementary and Secondary Education, Department of Education; Part 222 -- Impact Aid Programs; Subpart L -- Impact Aid Discretionary Construction Grant Program Under Section 8007(B) of the Act; General], the term level of bonded indebtedness means “the amount of long-term debt issued by an LEA divided by the LEA's bonding capacity.”