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The financial securities issued for this loan were known as 'Cartelle' and had an interest rate of 5.50 per cent. The Folders were bearer bonds, which meant that they could be transferred from hand to hand without the need to be registered with a financial institution. The denominations available for these Folders were between 100,000 and 500,000 lire.
One of the distinctive features of these financial securities was the portrait of Galileo Galilei on them. The portrait of Galileo Galilei, the famous Italian scientist and philosopher of the 16th and 17th centuries, was a symbolic choice to emphasise the importance of education and science in school construction.
The purpose of the loan issue was to finance school building projects in Italy. The funds raised through this loan were used to construct, renovate or improve school buildings in the country. The aim was to ensure adequate environments for education and to improve access to quality education for Italian students.
As in the case of the 5% redeemable Land Reform Loan described above, the School Building Loan was redeemable, which meant that the Italian government was obliged to repay the principal and interest to the holders of the bonds at the agreed maturity.
In conclusion, the 5.50 per cent redeemable school building loan of 1967 was an issue of Italian government bonds aimed at financing projects for the construction and improvement of school buildings in the country. This issue had a portrait of Galileo Galilei on the bonds, symbolising the importance of education and science.
