Cherokee sells $21.8M in school bonds

Work continues on the Cherokee County schools’ new educational services facility in Canton. CHEROKEE COUNTY SCHOOL DISTRICT
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Work continues on the Cherokee County schools’ new educational services facility in Canton. CHEROKEE COUNTY SCHOOL DISTRICT

The Cherokee County School District’s recently upgraded credit rating and strong reputation made possible a successful sale of $21.8 million in bonds at a 2.56 percent interest rate, officials said.

Citigroup Global Markets, which had been approved to issue and sell bonds for voter-approved Education Special Purpose Local Optional Sales Tax uses, and financial consultants Davenport & Co. reported on the general obligation bond issue at a recent school board meeting.

Bond proceeds will go toward completing the Frank R. Petruzielo Educational Services Facility, drive improvements at Boston Elementary School in Woodstock, renovations and repairs to existing facilities, technology and infrastructure upgrades, the purchase of new buses and the acquisition of land for future schools.