Comments on: CSD: No Teacher Furloughs…For Now

By: Steve

Steve — Thu, 30 Jul 2009 01:32:43 +0000

Foodie never explained what new construction was being discussed and I was responding re: the bond issue.

By: Watchdawg

Watchdawg — Thu, 30 Jul 2009 01:16:49 +0000

Foodie is right. There has been no bond issue approved by the voters for the new construction at Fifth Ave., nor is there SPLOST money for it. That will be an interest only loan (for now). The bond money is covering the new high school facilities, and was supposed to pay for the new gym at Renfroe, if it had stretched that far.

By: Steve

Steve — Thu, 30 Jul 2009 01:06:35 +0000

The periodic payments for the bond issue, principal and interest, come from the additional tax levy approved by the voters. Normally, when you make a mortgage payment, some of it goes to principal, some to interest. A bond payment works the same way.

By: Daily Digest for July 29th | digital guerrilla

Daily Digest for July 29th | digital guerrilla — Thu, 30 Jul 2009 00:01:48 +0000

[...] Shared CSD: No Teacher Furloughs…For Now [...]

By: foodie

foodie — Wed, 29 Jul 2009 23:28:57 +0000

Are you saying that the interest for the bond issue comes from the bond issue?

By: Steve

Steve — Wed, 29 Jul 2009 22:57:58 +0000

The bond issue is providing the money for the new construction, along with some SPLOST money. The interest and principal on the bonds is being amortized over time, much like a mortgage.

By: foodie

foodie — Wed, 29 Jul 2009 22:36:35 +0000

No. The new construction. The as-yet-to-be borrowed money and interest. The interest will come from the school budget, no?

By: Steve

Steve — Wed, 29 Jul 2009 18:32:07 +0000

The $10M is construction money from a bond issue and has nothing to do with teacher’s salaries.