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School system to borrow millions for daily operations

By Ty Tagami
July 10, 2012

The DeKalb County School District is borrowing $90 million to finance operations during the fall semester.

The full school board gave unanimous approval Monday to Superintendent Cheryl Atkinson's request to borrow the money until Dec. 28 at a 0.6 percent interest rate.

The school system has spent its reserves, and the borrowed funds will cover salaries and other costs until taxes are collected near year's end. The cost for financing and issuance is about $330,000, according to finance chief Michael Perrone.

About the Author

Ty Tagami is a staff writer for The Atlanta Journal-Constitution. Since joining the newspaper in 2002, he has written about everything from hurricanes to homelessness. He has deep experience covering local government and education, and can often be found under the Gold Dome when lawmakers meet or in a school somewhere in the state.

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