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Hamilton County to consider approving up to $5 million loan for school lighting upgrades
Summary
Clerk read a resolution approving a loan agreement for up to $5 million to fund an energy-efficient lighting project for Hamilton County Schools; officials said the county will carry the debt and the school board is expected to vote tomorrow on whether it will repay from energy savings.
Resolution 126-24, read in committee, would approve a loan agreement for the issuance of debt by Hamilton County Schools for an energy-efficient schools initiative and authorize execution of a loan agreement not to exceed $5,000,000.
County staff explained that while the school system will repay the debt through projected energy savings, the legal structure requires the County Commission to approve and carry the debt because the school system is not legally permitted to carry it directly. A staff member said the school board was scheduled to meet the next evening to consider the school’s action.
Dr. Sharp, speaking for the schools, described the project as a major lighting upgrade across classroom, hallway and office areas and said the long-term result would be significant energy and cost savings. Commissioners indicated they had no substantive questions in committee and expect to consider the loan agreement next week after the school board's action.
