At least seven business days before a scheduled debt service payment is due, a district that has issued bonds under a certificate of eligibility must confirm that sufficient funds will be available to make the scheduled debt service payment. If the district determines that insufficient funds are available to make the scheduled debt service payment, the district must notify the office of the state treasurer at least seven business days prior to its due date. Such notice shall be made to the office of the state treasurer as follows:

(1) By telephone: 360-902-9000; and

(2) By email: SchoolBondGuarantee@tre.wa.gov.

Failure to make this notification may result in a denial of future applications for eligibility.