SB 205 Helps School Districts Accelerate Solar Power Adoption Programs and Reduce Energy Costs Using Qualified School Construction Bonds ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (“SPI”) (OTCBB:SOPW) announced today that the March 25, 2010 signing of Senate Bill 205 by Governor Arnold Schwarzenegger helps clear the way for school districts across the state to leverage Qualified School Construction Bonds (QSCBS) to finance infrastructure projects, including the installation of solar systems to reduce energy costs. The bill provides municipalities the authority to move forward with selling these bonds to fund qualified projects. QSCBs are part of the $787 billion American Recovery and Reinvestment Act (ARRA) of 2009. The ARRA authorizes these special low-interest bonds for schools seeking to improve infrastructure. QSCBs provide federal tax credits for bondholders in lieu of interest in order to significantly reduce an issuer's cost of borrowing, providing a win-win solution for all parties.
