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Lamar County school board adopts FY2024–25 budget, authorizes up to $950,000 borrowing
Summary
The Lamar County School Board approved the 2024–25 fiscal year budget, adopted a resolution declaring the necessity to borrow up to $950,000 and authorized a limited tax promissory note for $900,000 to fund district improvements; the measures passed by voice vote.
The Lamar County School Board on July 15 adopted its fiscal year 2024–25 budget and approved two resolutions authorizing new borrowing to pay for district improvements.
During the meeting the board voted to adopt the budget that staff had presented the previous month and then approved a resolution finding it necessary to incur indebtedness, allowing borrowing up to $950,000. The board also authorized entering into a limited tax promissory note in the principal amount of $900,000 to raise money for specified capital improvements. Each item was approved following motions and voice votes recorded as "all in favor." The motions did not record individual mover or seconder names in the transcript.
Superintendent comments during the finance discussion noted three bids were received for the bond referenced in the resolution; the lowest announced interest rate was 5.05% from C Bank. The winning bid was announced in the meeting as Citizen Bank. The board indicated it will continue paperwork and preparations related to a bond referendum planned for the November general election and expected to return the measures for any remaining approvals at the August 12 meeting.
The board did not provide a detailed roll‑call vote or a named vote tally in the public transcript; the actions were recorded as passing by unanimous voice votes. No additional conditions or amendments to the promissory note were announced at the meeting. The board moved on to other agenda items after the financing actions were completed.
