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Chambersburg Area SD warns debt service could more than double as "Schools of Distinction" plans advance
Summary
Board members heard that debt service tied to the district’s three planned "Schools of Distinction" buildings could rise from about $11.7 million now to over $26 million annually under a roughly $200 million borrowing scenario; administrators outlined cash balances, state budget risks and next steps for financing and branding.
At the Chambersburg Area School District board meeting, Board President Ed and Superintendent Bigger told the board the district’s planned "Schools of Distinction" building program could push annual debt service from about $11.7 million today to more than $26 million within roughly five years, based on April estimates that included a possible $200 million borrowing.
The increase — roughly $15 million in annual debt service compared with current levels — has prompted administrators and trustees to examine financing options, tax implications and program trade-offs as the district develops detailed project and bonding plans.
Board President Ed said the April numbers, which assumed a $200 million borrowing for three new buildings, drove the projection that annual debt service would rise from about $11,700,000 to over $26,000,000. He told the board that the district is working to refine those figures and…
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