The Madison County School Board can move forward with its capital improvement plan.
Friday, the Madison County Commission voted to help them match a BRAC bond that will pay for those construction projects.
The school district is set to receive nearly $56-million in BRAC, or Base Realignment and Closure, funding. In order to receive that money, the district must match that amount with its own money. The district was $23 million short.
The County Commission is helping them secure that $23-million in bonds. The Commission has pledged $5 -million over the next 10 years to obtain those bonds.
When the 10 years is up, the financial burden will be transferred to the school district.
The eligibility of BRAC funding and the matched money, gives the Madison County School district the green light on its capital improvement plan.
The funding will allow the school board to address the district's overcrowding issues and renovation needs.
A new high school in Monrovia is now on the table thanks to this money.
All three school districts within Madison County have capital projects in the works in the combined amount of $147-million.
The County Commission Chairman Dale Strong said the bonds will become available immediately.
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