(KAIR)--The USD 377 Board of Education has been approved for a Qualified Zone Academy Bond from the Kansas Department of Education worth $755,000.

The Board voted to accept the bond during their meeting Monday.

The QZAB is a federal, zero-interest rate program, and the district will have twenty four years to pay it off, at a rate of nearly $31,000 a year.

Superintendent Steve Wiseman says there are some requirements that go along with the bond including having a ten percent match in services programs or software. However, he does not think it will be difficult to find someone to make that match. He adds that there are a lot of companies that promote the kind of programs the district can use to focus on technology, science, and math.

Wiseman says the board will hold a special meeting in the next few weeks to decide on how to best use the money, and “They are in the process of putting together some data and...Mr. Martin, the Board President talked to the board about putting together a list of projects that are a priority, that would encompass probably a million dollars and work from there, and see if we can't put together a plan for how to move forward with the use of the $755,000.”

Wiseman says that even though the board has authorized the bond, the matter is complicated slightly with the news that the state has received it's 2015 allocation of $3 million from the federal government.  The board has to decided how much they can afford every year for the next twenty four years to help make some much needed upgrades to district facilities.