A significant resolution was passed at the Campbell County Schools Board meeting on December 18, 2023, authorizing the Campbell County School District Finance Corporation to issue revenue bonds for the construction of the new Grant Select Elementary School. This decision is crucial as it enables the financing of essential school projects while adhering to Kentucky's constitutional restrictions on school district debt.

The board discussed the necessity of this resolution, which allows the independent finance corporation to issue both long and short-term debt. This structure is designed to ensure that school boards can manage their financial obligations within the fiscal year. The board of education members also serve as the directors of the finance corporation, streamlining the process of securing funds for school projects.

The resolution includes provisions for a lease agreement between the school board and the finance corporation, ensuring that lease payments will cover the debt incurred. The board emphasized the complexity of the financing process, which involves multiple steps, including the approval of architect plans and compliance procedures.

With no questions raised during the discussion, the board unanimously approved the resolution, marking a significant step forward in the development of the new elementary school. This project is expected to enhance educational facilities in the district, reflecting the board's commitment to improving student learning environments.