Centertown School funding unanimously approved
|
According to Education Committee chairman Bill Zechman, the school system met the requirements set out by the commission last year, which included choosing a location, purchasing land, and commissioning plans for the facility.
“The Education Committee adopted a statement, or a finding we call it, stating that the school system had completed all of the conditions and requirements the county commission presented last year,” Zechman said. “All conditions have been met, and it is time for the county commission to act. I look forward to and expect the county commission will adopt this as a sound and beneficial way to address our education needs.”
Cumberland Securities, which has had a business relationship with the county for many years, will be handling the bond sale for the county pending approval Monday night.
Budget and Finance Committee chairman George Smartt said the county was presented several alternatives for the financing, and eventually chose a 10-year plan which would minimize the county’s interest costs and avoid an increase in property tax.
“We selected what we thought was the best option,” Smartt said. “I believe it was the shortest term. It was the least expensive from an interest standpoint since we’re paying it off more rapidly than we have many of the things we’ve done in the past.”
Smartt said he is pleased the county has the ability to take on the project, which has been in the hearts and minds of Centertown residents for years.
“Obviously we’re happy to be able to do it,” Smartt said. “But I’m even more happy that this county is in the financial position where we can do things we need to and want to when we want to. The reason we’re there is because we’ve been very careful and frugal with what we’ve spent, and we have built up a very healthy debt service fund.”