Warwick County schools hold preliminary hearing on $17 million bond; administration presents 2026 budget plans

Todd Armstrong, assistant superintendent for the Warwick County School Corporation, presented the proposed 2026 budget, a three‑year capital projects plan and a five‑year bus replacement plan and opened the district's required preliminary hearing for a proposed $17 million bond issue. "When we issue bonds that exceed the non‑controlled project threshold ... we have to hold two public hearings," Armstrong said, describing required disclosures about maximum borrowing, estimated interest and repayment terms.

The proposed bond would be capped at $17,000,000 with an assumed interest rate of 5.5 percent and an estimated interest cost of $3,285,000 over the loan term; the resolution identifies a maximum maturity date of Jan. 15, 2035 but Armstrong said the administration expects to repay the issue in roughly five years, by late 2030. He said the maximum annual debt…