Commission discusses loan funds with schools

Qualified Zone Academy Bonds (QZAB) were discussed during the joint meeting of the Alleghany County Board of Education and the Alleghany County Commission. The schools had been awarded $2 million in grant funds but have had difficulty finding a bank to finance the loan. The discussion had been tabled during a previous joint meeting of the boards.

Chair Ken Richardson stated, "I think one of the things that we tabled, not only to give the county manager an opportunity to pursue the cost to bring up during our discussion $2 million QZAB funds. I'm speaking of me only. I'm supportive of keeping the $2 million and using it exactly the way it was outlined and presented to us. Now, if that takes care of immediate needs, then that's great. But I'm very conscious of what you're talking about long term needs. I certainly have no problem, again speaking for myself, if you prepare and bring to us a plan that you would like to put on a bond referendum to the public, then I certainly would support letting the citizens decide if the case that you're making is saleable to the public, I have no problem with authorizing that..."

School Board member Mitch Franklin told the commissioners, "Our long- term needs are next year. In my opinion, we can wait, and I think it's smart for you all to pay down your debt with whatever you get from Medicaid help this year this year, that's fine. But what we're looking for is a commitment to say, 'We know you've got needs too. We're trying to help ourselves right now and that's fine. We've waited and we've waited. The issue last time was bonds and now they're available. we don't need them this year anyway other than to keep this thing going.

 

Get the whole story - read this week's edition of The Alleghany News!