Trustees authorize bond sale to be taxpayer-backed

Oconee school trustees moved forward last night to authorize a general obligation bond sale up to $20.5 million.  A paragraph of the legalese attached to the resolution reads:  “It is now in the best interest of the School District for the Board to provide for the issuance and sale of general obligation bonds of the School District pursuant to the aforesaid provisions of the Constitution and laws of the State of South Carolina (the “State”) in the principal of not to exceed $20,500,000 for the purposes of funding capital projects in accordance with the School District’s long-term capital plan (the “Projects”), paying costs of issuance of the Bonds, and such other lawful purposes as the Board may determine.”  As to where the generated monies are to be spent Steve Hanvey, associate superintendent, issued this statement to 101.7/WGOG NEWS:  “A large portion of this year’s bond sale will be going toward the new Seneca Middle School.  We also will do some smaller capital improvement projects, purchase vehicles to replace aging ones in our fleet, and spend a portion on technology and technology infrastructure.  We will also make our payment to the YMCA that the board committed to several years ago.”