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Commissioners approve $30 million front‑funding to keep school capital projects moving
Summary
The board approved a budget revision to front approximately $30 million for ongoing capital projects tied to the 2022 school bond; the county says funds will be reimbursed at an upcoming bond sale.
The Johnston County Board of Commissioners voted to approve a budget revision to temporarily front funds so ongoing school capital projects can continue until the county sells bonds in March.
Finance director Chad McLamb told the board the $30 million will be fronted to keep projects moving and that the county will recoup the money at a planned bond sale tied to the 2022 bond referendum. Projects cited by McLamb included construction of a new Wilsons Mills High School and Swift Creek Elementary School, additions and renovations to Cooper Elementary School, security improvements across the district, and restroom and storage work at Princeton High School and Bridal School.
Why the board acted
McLamb said the county expects no impediments to the bond sale and noted the county’s AAA credit rating, which staff said has reduced borrowing costs. The board adopted a reimbursement resolution and approved the budget revision by voice vote; the clerk recorded the motion as carried.
Ending
County officials said they will continue to coordinate with the school system on timing and project details and that the fronted funds will be repaid from the bond proceeds.
