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Vicksburg-Warren board declares ad-valorem shortfall, approves renewal of 3-mill note
Summary
The Vicksburg-Warren School District board voted to declare a shortfall in ad-valorem receipts and approved steps to cover the gap, including a resolution to issue a 3-mill note and hiring counsel to handle the shortfall note process. School leaders warned federal ESSER funds remain frozen and district revenue is uncertain.
The Vicksburg-Warren School District Board of Trustees voted Thursday to declare a shortfall in ad-valorem receipts and approved a resolution to issue a 3-mill note to cover the gap.
Superintendent Dr. Holloway told trustees the district requested $36,000,000 in ad-valorem collections but received $32,000,000, creating the shortfall the note is intended to cover. "That shortfall note will make up the difference between the two," Dr. Holloway said during the meeting.
The board also approved a separate resolution declaring the necessity to renew the district's existing 3-mill note, which the district uses as temporary financing. The board moved and…
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