MCSD leaders validate up to $70M in debt for projects

MCSD leaders validate up to $70M in debt for projects

COLUMBUS, GA (WTVM) - School officials in Muscogee County made a quick decision Monday night to help safeguard having enough money for future work like building a new Spencer High School.

At their called meeting, the Muscogee County school board voted 6-2 to validate the general obligation or GO bonds. This was approved by the public in a vote last March, related to the special purpose local option sales tax or SPLOST.

It allows the school district to go into debt up to $70 million to ensure they have enough money available for projects they promised to do.

"They (school district administrators) will drip that out over time, as an as-needed basis, so as not to draw down a bunch of debt and begin incurring interest expense," school board president Rob Varner said.

Muscogee County's school board president says they'll do the best job they can while trying to pay the least amount of interest possible. The validation for bonds, again approved Monday night, now goes to the district attorney.

Copyright 2015 WTVM. All rights reserved.