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Cheatham County approves up to $2.46 million interfund note for school restroom and concession project; vote 7–1
Summary
The county approved an interfund capital outlay note of up to $2,460,000 to fund restroom and concession stand construction at multiple schools, and authorized related transfers including $500,000 from the General Purpose School Fund. The measure passed by roll call 7 Yes, 1 No; the Comptroller's approval is required.
Cheatham County commissioners on May 20 approved an interfund capital outlay note authorizing up to $2,460,000 to finance restroom and concession improvements for county schools.
The resolution, introduced by Commissioner Calton Blacker and seconded by Commissioner David Anderson, passed by roll-call vote 7 Yes and 1 No (Commissioner Walter Weakley), with four commissioners absent. The authorization allows the county to issue interest-bearing capital outlay notes and temporarily transfer $2,460,000 from the Education Debt Service Fund to the Education Capital Projects Fund pending final approval by the Tennessee Comptroller or the Comptroller's designee.
Why it matters: The action creates a pathway for the county to borrow and move budgeted debt-service proceeds into a construction account to pay for four restroom/concession projects intended for local schools. The resolution also included a $500,000 transfer from the General Purpose School Fund to the Education Capital Projects Fund to help cover project costs.
What the resolution says: The approved resolution (Restroom/Concession Project Interfund Capital Outlay Notes, Series 2024) authorizes notes with maturities not later than three fiscal years after issuance and permits mandatory redemption schedules as agreed with the purchaser. It pledges the county's full faith and credit and allows the county to levy a special tax if necessary to create a sinking fund for repayment. The resolution cites Parts I, IV and VI of Title 9, Chapter 21, Tennessee Code Annotated as the statutory authority for issuing interfund capital outlay notes.
Vote and dissent: The final tally was 7 in favor, 1 opposed, and 4 absent. Commissioner Walter Weakley registered the lone recorded 'No' vote during the roll call. Commissioners who voted yes included David Anderson, Bill Powers, Calton Blacker, Diana Pike Lovell, Tim Williamson, Eugene O. Evans Sr., and James Hedgepath.
Next steps: The resolution requires written approval from the Tennessee Comptroller's office before the notes can be sold. The county also must adopt an annual budget adequate to pay debt service in the years the notes are outstanding.
