The Cherokee County Board of Education has approved the sale of up to $42.5 million in general obligation bonds to pay for voter-approved capital projects during the next 18 months.
Proceeds of the bond sale will be transferred to an escrow account at Regions Bank, according to a staff memo to the school board. The funds will go toward a parent drive at Boston Elementary school, an addition at Mill Creek Middle School, turf installation, major repairs and renovations, technology equipment and infrastructure, security upgrades and other projects,
The bonds were made possible by voter approval of an Education Special Purpose Local Option Sales Tax referendum on Nov. 8, 2016. In April, the board authorized Citigroup Global Markets Inc. to prepare, price and tentatively market the bonds.
Citigroup and the school district’s independent financial consultant, Davenport and Co., are advising the board.
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