(a) This part shall apply to all:
- (1) Loan and bond applications filed by school districts and all revolving loan applications filed by education service cooperatives with the Department of Education; and
- (2) Academic Facilities High-Growth School District Loan Program loan applications filed by school districts with the Division of Public School Academic Facilities and Transportation.
- (b) Loans approved as part of a court-approved settlement agreement to which the department or State Board of Education are signatory are exempt from the general application of this part.