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Superintendent: bonding potential down, state awards $7.5M toward gym project but cost still short
Summary
Superintendent reported Garrard County’s local bonding potential fell to about $11.6 million, and that the state has made $7.5 million available as gap funding for one capital project; combined this produces roughly $19.2 million toward a gym project but does not cover total cost.
The superintendent told the Garrard County Board of Education that the district’s borrowing capacity has tightened as interest rates have risen and that a state gap‑funding award has partially offset the shortfall for an anticipated gym project.
"Last month, your bonding potential was $13,000,000. This month, it's 11,608,000," the superintendent said, noting the change…
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