Commissioners, school board approve sale of bonds

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The Crockett County Commissioners’ Court and the Crockett County CCSD School Board approved the sale of bonds for the Crockett County CCSD that will allow the district to pay off a bond and add more to their 2018-2019 budget.

During Monday’s regular meeting, and a special school board meeting also held Monday, both boards approved the sale of the bonds that will move funding from the district’s Qualified School Construction Bond loan from the maintenance and operation budget to the interest and sinking budget in order to pay off the loan faster, and not subject the loan payment to recapture under the Robin Hood plan.

By doing this, the district will be able to add $231,000 to their maintenance and operations budget. This was approved by Crockett County Voters in November 2018.

Superintendent Raul Chavarria said bonds are normally sold in January, but the wait has allowed the district to gain about $45,000 in a rebate that will also be added to the maintenance and operations budget.

The approval also delegates Chavarria to handle the sale, since the district is looking to sell them within 15 days.

“You are being efficient and servicing the debt,” said Sara Leon, the district’s attorney of Sara Leon and Associates.

 

 

 

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