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Saline County to retire $43.5 million career-technical center bond Oct. 1; related sales tax to end
Summary
County officials announced a ceremony Oct. 1 to mark retirement of the bond used to build the Saline County Career Technical Education Center and said the 3.08-cent sales tax tied to the bond will end after Sept. 30.
The Saline County court announced a bond-retirement ceremony set for Oct. 1 at 10 a.m. at the Saline County Career Technical Education Center to mark the retirement of the bond that financed the facility.
A court official said the center cost $43.5 million to build and that the bond will be retired "well before" its originally projected amortization schedule. The official said the amortization had been projected into 2041 but the county retired the bond roughly seven years earlier than that projection; the clerk's reading attributed the early retirement to stronger-than-expected local growth and fiscal results. The court said that on or after Oct. 1 the 3.08-cent sales tax that supported the bond will end at the point of sale.
The court urged residents to attend the Oct. 1 ceremony, which the official described as a public event that will include symbolic burning of the bond on the front steps of the Career Technical Education Center.
In remarks to the court the same speaker tied the bond retirement to local investments in education and workforce training, noting the center serves multiple school districts in central Arkansas.
