We Are Improving!

We hope that you'll find our new look appealing and the site easier to navigate than before. Please pardon any 404's that you may see, we're trying to tidy those up!  Should you find yourself on a 404 page please use the search feature in the navigation bar.  

Monday, 21 March 2016 20:28

Commissioners set public hearing on Manning financing

Written by
Rate this item
(0 votes)

Halifax County commissioners this evening set April 18 for a public hearing on its intent to pursue installment financing for the new Manning Elementary School.

The hearing will be at 5:30 p.m. in the commissioners room at the Historic Courthouse in Halifax.

The county is expected to send out requests for proposals Tuesday and hopes to have them returned by the end of the month or first of April, County Attorney Glynn Rollins told the board.

Robbie Clements, Roanoke Rapids Graded School District operations director, said the school system is expected to open construction bids on April 7 and once the low bidder is determined will go to the school board to proceed with the understanding financing is in place.

County manager Tony Brown said during a break in the meeting he is hopeful the county, which will finance $18 million for the new school, can get an interest rate of no more than 4 percent.

He said after comparing bank financing and possible loans from USDA, the bank rates were comparable with what USDA offers. While bank debt service is higher, the interest rate is less because the county is looking at a 15-year term.

Going through USDA, Brown said, the interest on a 30-year-old loan would be doubled.

As far as possible property tax implications, Brown said, “We're going to have to look at our revenue stream to see what we can cover.”

In another matter this evening the board presented checks to the teams participating in last week's Halifax County Public Library Quiz Bowl.

The county allocated $1,000 to go to the libraries of the participating teams.

Present at this evening's meeting, and in order of the accompanying photos were representatives from Roanoke Rapids High School, which won the event, Halifax Academy, which finished second, Roanoke Valley Early College and Northwest High School, which also accepted on behalf of Southeast.Representatives from KIPP were not present.

First place received $400; second place $250; third place $125; fourth place $100; fifth place $75 and sixth place $50.

They are pictured with board Vice Chair Rives Manning.

Read 2839 times