City to assume school board bond

By Staff
Jonathan Willis
The city council voted Monday to pay 100 percent of the school system's warrants on a bond taken out in 2007.
The move changed a council action implemented in 2007 when the city re-structured its bond payments. When the re-structuring took place, it changed the system's pay off date on that particular bond from 2026 to 2033.
Councilman Jeff Masterson said that by assuming that one bond payment, the city would free $1,600 a month for the school system.
"The school's position has always been that they assumed seven more years of a bond payment when they didn't receive any of the benefits of it," Masterson said.
"Basically this administration just freed up approximately $1,600 a month for the schools to invest in our students," Masterson said.
"While we realize this isn't major money, every little bit helps in these tough economic times. Also it demonstrates our commitment to help support our school system."
In other business, the council:
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