The Guilford County Board of Commissioners will hold a public hearing soon regarding a proposed $25 million bond issuance to fund new projects of the Greensboro Day School as well as refinance past projects of the school.
Even though the bonds require approval of the Board of Commissioners, no county taxpayer funds will be put at risk – nor will the faith and credit of Guilford County be on the line.
The bonds, if approved, will actually be issued by a public financing body in Wisconsin. However, the legal process requires that Guilford County sign off on the plan.
So, Guilford County has given notice that, on Thursday, Feb. 23, the Board of Commissioners will hold a public hearing on the matter during the board’s meeting, which will start at 5:30 p.m. and be held in the Commissioners Meeting Room on the second floor of the Old Guilford County Court House at 301 W. Market St. in downtown Greensboro.
The money raised by the sale of the Bonds will be loaned to Greensboro Independent School Corporation – doing business as the Greensboro Day School – a 501(c)(3) nonprofit corporation.
Part of the money will be used to refinance a 2010 loan that paid for campus improvements.
The new projects funded by the bonds consist of “(a) construction of a 17,000 square-foot pre-school building, (b) construction of a maintenance building; (c) construction of a playground, including acquisition and installation of the equipment for such playground; (d) security improvements and equipment acquisition and installation related to security at the Borrower’s campus, (e) general capital improvements to the Borrower’s campus and (f) the design and construction of a new Center for Student Life, Entrepreneurship, and Innovation which will include a welcome center, common areas, design and arts facilities, engineering and industrial makerspace and a center for entrepreneurship.”
Call me old school on my thinking. Isn’t tuition supposed to pay for this? Or is this dumping the cost on future children’s tuition?
Why does the overburdened tax payer have to pay for a “private school”? A seemingly elitist one. But hey, look at the Hebrew Academy property, the CCP and your local gummint.
No taxpayer money is involved. Read the article and learn. The fact that any government entity gets involved in a private matter is beyond ridiculous.
Re-read the article please.
“…no county taxpayer funds will be put at risk – nor will the faith and credit of Guilford County be on the line.”
The taxpayers aren’t footing the bill or backing anything. Read the article. It’s a private school seeking private funding to fulfill their woke mission. Who cares?
I get so tired of all this borrowing. Go to The NC Education Lottery for educational funds.
This is a private school. They get no lottery funds. Educate yourself.
The only funny part is that Guilford County commissioners have to vote to approve a private school matter. That is stupid!
Where are they planning to locate all those new buildings? And why is there a need to “refinance” prior projects? How much of the bonds go to paying current expenses?