S.2367 - Federal Government - A bill to provide for the issuance of bonds to provide funding for the construction of schools of the Bureau of Indian Affairs, and for other purposes.

A bill to provide for the issuance of bonds to provide funding for the construction of schools of the Bureau of Indian Affairs, and for other purposes. 11/15/2007--Introduced. Indian School Construction Act - Directs the Secretary of the Interior to establish a pilot program under which eligible Indian tribes have the authority to issue tribal school modernization bonds to provide funds for the construction, rehabilitation, and repair of tribal schools, including advance planning and design.Permits a tribe to use amounts received through a bond issue to enter contracts: (1) for the design and engineering of the school; and (2) with financial advisors, underwriters, attorneys, trustees, and other professionals to provide assistance to the tribe in issuing bonds.Makes any tribal school modernization bond issued by a tribe subject to a trust agreement. Authorizes the Secretary to deposit not more than $50 million into a tribal school modernization escrow account [...]

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