The Christian County School Board approved a contractor and approved a resolution that will allow for sale of bonds to continue renovations at the Breathitt campus Gateway Academy renovations.
Speaking with WHOP News, Christian County Public School System Superintendent Mary Ann Gemmill says the bonding is in relation to those renovations. She says the $3.1 million project is partially being funded by a grant, but the district has to match it, resulting in a $1.5 million bond sale.
She says they are hoping for the renovations to the building on North Drive to be completed by August, in time for students to start taking courses there.
Bonded debt for a governmental entity is the same as an individual securing a home mortgage or other loan. Bond Agents use the District’s past and projected future revenues to calculate the terms of the loan such as frequency of payment, interest rate, and number of years on the loan.
The approval allows the Christian County School District Finance Corporation to sell the bonds. The building project is a partnership between CCPS and Hopkinsville Community College to build a large space for dual credit courses.