Over the last three years, voters in Guilford County have approved $2 billion in school bond money, and, on Thursday, Jan. 18, the Guilford County Board of Commissioners is scheduled to pass a motion that will allow county finance staff to raise $180 million of those funds for school construction and repair.
In June 2020, the board approved putting a $300 million school bond referendum on the ballot, and the majority of Guilford County voters said yes please, we want it.
The portion of those school bonds – issued in September of 2021 – was for $120 million. This week’s move will close out the money from that 2020 bond referendum. Once the schools spend the new $180 million on projects, it can dig into the $1.7 billion in school bond money that voters approved in May of 2022.
This second portion of the school bonds approved in 2020 – bonds backed by the full faith and credit of the county – will be designated “General Obligation School Bonds, Series 2024”.
The North Carolina Local Government Commission – a state body that oversees the financial health of counties in North Carolina – requires that the Board of Commissioners adopt a resolution authorizing the issuance of the General Obligation Bonds before the county raises the money and gives it to the school system.
Once the bonds are issued on the market and the money is available, the Guilford County Board of Education will come to the county commissioners with a list of proposals for school construction and improvement projects, which the commissioners must sign off on before handing over the money.
In past years, that has sometimes been a contentious discussion. However, the current board of commissioners – which includes two former school board members, a public school teacher and a school volunteer – tends to give the schools whatever they want with few questions.
Sane old same old.
Let’s hope that the bonds are not purchased. Backed by the “full faith and credit of the county.” Really? Skippy did not count on the voters of Guilford County voting “no” to a tax increase. Alston has his sycophants out talking up a sales tax increase. Do not be fooled. A sales tax increase will show up on a future ballot. Be prepared to vote “NO.” Spread the word.
Didn’t the need the money in 2020? Or is it putting another $300m burden on the taxpayer, and then finding something on which to spend the money?
Those 15,000+ who bothered to show up at the polls are responsible for this.
Hold on to your knickers boys, let the belly aching begin from the liberal geniuses that voted for this mess. And they haven’t even issued them all yet. They’ll hut us all in the head for increases over several more years when the sales tax hike fails again this fall.
Yes! Because why would be questioning the allocation of money to improve education
Improve education? You must be joking. As usual, the Guilford County School Board and the County Commissioners have no idea about education, and especially quality education. The School Board was willing to undermine the law (statute) to keep Michael Logan off the Board; this with the help of the Board’s attorney, Jill Wilson. Was this an act to improve education? It was a petty act by Deena Hayes and Jill Wilson to try and assure a compliant Board. How did this act improve reading and math? The effectiveness of a quality education in Guilford County Schools can be measured by the number of students leaving the system. The GCS cannot keep harmful behavior under control. In all fairness, this is mostly due to the schools’ fear of nonwhite students’ family screaming racism, while the problem began at home. I will never be able to understand how unacceptable behavior by a perpetrator of a harmful act can shout racism, and this shout is accepted in lieu of punishment. Maybe you can explain.
There was no mention of money to improve education. The money is for building schools. These are two very different topics.
So, Jim, you are saying that building schools will improve education? You need to run for the school board, you would fit right in with Deena Hayes-Greene who has no idea what she is doing.
When has education improved after throwing money at it? Kids can’t hit grade level in reading or math. Where has the money gone?
I am headed to Rockingham county…bye.
Why issue the bonds so far in advance of actually having the specifics to spend the funds on? If one of us mere mortals wants to build a house with a construction loan, we only get the loan amount from the lender in portions, spaced out over the length of time we do the building.
There is no point in borrowing and starting the interest clock running any sooner than necessary.
So true.