MARLBORO COUNTY, SC (WBTW) – The Marlboro County School Board met Monday night to discuss renovations to Bennettsville Intermediate School.
The school board voted to authorize a $2 million bond anticipation note for Bennettsville Intermediate School.
The bond anticipation notice is essentially a short-term loan for the first year.
The School Board’s Chief Financial Officer, Wes Park, said the board’s authorization was important to the referendum process.
“As discussed at last week’s facility workshop,” Park said. “The district will need funding to pay for project costs for Bennettsville Intermediate School, prior to the approval by taxpayers of a $10 million general obligation bond issuance.
School Board Chair, Lucy Parsons, said the money would be used to renovate, and even demolish, some areas of Bennettsville Intermediate.
“The gymnasium would have air conditioning put in there, the auditorium would be rehabbed, there’s one hall that would be torn down,” Parsons said about the possible renovations.
Park said the $2 million will provide the necessary funding for the renovations until there is a permanent financial solution.
He said voters will decide on the $10 million referendum no later than Nov. 2018.
“In the event the proposed referendum fails, the two-million dollar general obligation bond issuance will become a part of the permanent financing,” he said. “In the event that the taxpayers approve the referendum, the $2 million issuance will be paid from the $10 million permanent bond issue.”
The board also voted to allow Park to advertise for architects to work on BIS.
“We have to get, significantly, specific information ready for the voters so that it’s completely clear, and go to the voters with a factual request,” said the school board chair.
Parsons said many schools in the district are in need of renovations.
“The State Department had come here as part of the Abbeville project, and they looked at three projects, and they said that Bennettsville Intermediate was the most viable to renovate,” she said.
Park said regardless of what voters choose, taxpayers will not have a tax increase.
“The district benefits from only paying interest on the portion that is needed at that time, prior to the $10 million referendum authorized debt,” he explained. “And reduces the interest costs prior to needing the full amount of funds for the project.”
Park said some of the renovations Bennettsville Intermediate will see, include a new cafeteria, a fifth-grade wing, and renovated auditorium.
“We’re trying to play catch-up, but you can’t put off roof repairs,” Parsons said. “It’s about maintaining the real estate properly, so that we have a good environment that children can do school in.”
Park said the earliest all of the renovations to Bennettsville intermediate School could be done is Jan. 2020.
