School bond passes test10:00 am | August 9, 2013
After months of planning and discussion, Elizabethton’s City Council has given the green light to a bond for capital improvements for the Elizabethton City School system.
Council voted to approve the sale of a bond not to exceed $6.6 million for new classrooms, science labs and other improvements at T.A. Dugger Junior High Schools, a new band room and classrooms at Elizabethton High School and a new multi-purpose athletic complex at EHS.
“I am glad this day is finally here,” said City Mayor Curt Alexander. “I can’t think of a better day for this. The school system was just named one in five in the state as an exemplary school system. It is because of the great teachers and this is a way to reward them a little for their hard work.”
While the bond was limited to $6.6 million, the bond issue will likely be for $5.5 million; it will have an annual payment of roughly $720,000, which will come in below the average of $770,000 in sales tax collections the city receives that will fund the bond.
“There is no tax increase being put in place to cover this,” Alexander said. “This is being paid for by the half-cent sales tax increase that voters approved (in 2008).”