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Cheatham County approves interfund notes to fund school paving, safety equipment and stadium lighting
Summary
The legislative body approved three interfund capital outlay notes totaling up to $834,700 to fund CCCHS paving ($160,700), middle/high school safety equipment ($224,000) and athletic field lighting ($450,000); School Board previously approved the projects and funding source is education debt service.
Cheatham County commissioners on July 21 approved three interfund capital outlay notes to finance school projects previously cleared by the School Board.
The votes authorized: up to $160,700 for CCCHS paving and restriping (Resolution 11), up to $224,000 for middle- and high-school safety equipment (Resolution 12) and up to $450,000 for HHS and HMS athletic field lighting (Resolution 13). The School Board had voted 6–0 on each item July 10; the commissions' budget committee recommended each in a July 14 vote and the legislative body approved all three by roll call vote (each 12'0Yes, 0'No).
Each note is structured as an interfund capital outlay note (Education Debt Service Fund to Education Capital Projects Fund) under Tennessee statutory authority cited in the meeting packet. According to County staff, the funding source for the notes is note proceeds and education debt service; Director of Accounts Sandrine Batts reported an Education Debt Service fund balance of $10,000,000 during the meeting.
Resolutions authorizing each note specify standard parameters for issuance, maturity (not later than three fiscal years after issuance) and require Comptroller approval before sale. The athletic field lighting resolution notes a longer estimated useful life for the project (estimated weighted average life stated in the resolution packet).
School Board representative Stacy Brown announced a ribbon cutting for the new CCCHS stadium on July 26 and thanked the commission for approving the education debt items.
Next steps: the county will seek Comptroller approval for the note issuances and staff will finalize debt documents and budget amendments required to record the proceeds and appropriate capital outlay lines.
