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.”