Rising construction costs alter school tax plans

School officials have abandoned a plan to borrow tens of millions of dollars to expedite construction projects.

Last year, with construction costs dropping, Cobb County Schools issued $62 million in short term construction notes against anticipated proceeds from the county sales tax. Another $93 million would have been issued in coming years, but the school board voted Thursday to abandon the tax acceleration plan.

Construction administrator Doug Shepard said contractor bid prices rose this year so it no longer made sense to borrow money to rush contracts.