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District financial advisor: Rowan County schools have about $19 million immediate bonding capacity
Summary
At a Rowan County Board of Education meeting, financial advisor Lincoln Diner of RSL Advisors presented a conservative estimate of the district’s maximum bonding capacity today at about $19 million, explained the revenue streams that support bonding and cautioned that near‑term debt payments limit additional borrowing until later years.
Lincoln Diner of RSL Advisors told the Rowan County Board of Education that the district’s maximum borrowing capacity under conservative assumptions is $19,000,000.
Diner, who presented a multi‑page handout and walked the board through current debt, revenue streams and how state support is matched, said the $19 million figure assumes current revenues and does not project future property‑value growth. "That number is $19,000,000 shown at the bottom of column c," he said while explaining the spreadsheet.
The presentation laid out how the district’s existing debt service (roughly $2.9 million per year for the next eight to nine years) interacts with recurring revenue sources. Diner identified those sources as the local five‑cents‑per‑$100 assessed value property tax ("the local nickel"), a previously levied second nickel,…
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