The statutory basis for these rules is found in § 24-4-101, § 22-30.5-505, § 22-30.5-506, § 22-30.5-513, and § § 22-30.5-515.5, et. seq. C.R.S.
Pursuant to these statutes, the Charter School Institute board promulgates these rules to achieve the following purposes, including but not limited to:
(a) Describing the procedures and requirements for which Institute Charter Schools are eligible for a Loan or Grant under this Program;(b) Establish the priority for when, how and to whom the Grants or Loans will be awarded;(b) Describe the procedure and forms required to apply for a Grant or Loan under this Program; and(c) Describe the source of funds for this Program and manner of disbursement.