School sells bonds for new projects - WALB.com, Albany News, Weather, Sports

School sells bonds for new projects

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By Jim Wallace - bio | email

December 9, 2008

ALBANY, GA (WALB) - The Dougherty County School system is about to begin construction projects at several schools.  

Tuesday, the school board unanimously approved selling $18 million in bonds to pay for the improvements.   Construction will begin soon on a new cafeteria and renovations at Westover High School, Turner, and Lake Park Elementary Schools. 

The bonds were sold so the school system did not have to wait until all the allocated sales tax money was collected to start renovations.  

"The bond markets are all over the place at the moment," says DCSS Business Director Robert Lloyd. "Unless you have an A rating, through Standard and Poor's, which we do. What we call commercial paper, which are bonds, isn't selling. Therefore we have to have a good rating."

The school board also approved spending $147,000 on pianos and stringed instruments for schools and bands throughout the system. Construction projects are also planned at Turner Elementary and Lake Park Elementary.

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