Dougherty County schools borrow $32.5 Million - WALB.com, Albany News, Weather, Sports

Dougherty County schools borrow $32.5 Million

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Dougherty County School Board Members at Wednesday's Meeting Dougherty County School Board Members at Wednesday's Meeting
Kenneth Dyer, Finance & Operations Executive Director Kenneth Dyer, Finance & Operations Executive Director
Dougherty County School System Administrative Building in downtown Albany Dougherty County School System Administrative Building in downtown Albany
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ALBANY, GA (WALB) -

A handful of Dougherty County schools will get some major improvements.

Wednesday, the Dougherty County School Board approved a $32.5 Million loan for improvements to Dougherty and Monroe High Schools, Turner Middle and several other schools.

The five-year loan will be paid back with education SPLOST revenue.  School officials say the system's bond rating has improved, and they'll borrow the money at an interest rate less than one-percent.

"We want to impact the students with better facilities, more modern facilities as soon as we possibly can, so I think the move to issue the bonds to fund the projects up front is a smart choice," said Kenneth Dyer, Finance & Operations Executive Director. 

Dyer said taking a loan now will save money as construction costs rise.  The largest project at Dougherty high will last until May 2015.

 

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