The Plum School Board on Tuesday night voted to approve a combination of bond refinancing and borrowing that will glean the district $15 million.
Officials intend to use the money for a variety of facility improvements over the next five years including paving driveways and parking lots, painting and installing air conditioning at Center Elementary School.
Plum School District's facility improvements total about $5.5 million, according to a list generated by the administration.
Also, $7 million is earmarked for construction of the new Holiday Park Elementary School. The total cost of the new school is estimated at $18 million.
Five million is expected to be generated from the bond refinancing, and $10 million is being borrowed, according to Joseph Muscatello, the district's bond counsel.
The vote was 7-2 with board members Tom McGough and Loretta White dissenting.
“Education is a priority for me,” White said.
Board President Andrew Drake said the work for which the money is earmarked is long overdue.
“It is an opportunity for us to meet one of our long-term objectives in getting the facilities back to where they should be,” Drake said.
Muscatello said the board's action is expected to result in the district's total debt rising from $91 million to $106 million.
Read more about the board's action in the May 9 issue of the Plum Advance Leader.
Karen Zapf is a staff writer for Trib Total Media. She can be reached at 412-856-7400, ext. 8753, or email@example.com.
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