With construction bids for a new Manning Elementary School set to go out next month, Halifax County Commissioners must make a decision on funding.

The county, representatives of the Roanoke Rapids School and the project's architect will have a face-to-face meeting next week in Raleigh with the Local Government Commission to discuss plans for the building of the school, County Attorney Glynn Rollins told commissioners at their meeting today.

Following that meeting, Rollins said further information will be presented to board at its March 7 meeting.

The county attorney told the board there are two financing options available.

One is traditional installment financing through a bank for the anticipated $18 million debt. “You're looking at a 15-year term,” Rollins said, explaining at this point the interest rate is not clear. “We may could get a 20-year term.”

The county could go through a public offering with obligation bonds he told the board. “You get a longer term on bonds and an interest rate between 4 to 4 ¼ percent. The longer the maturity date, the higher the rate you're going to have pay. It's a lot of money but options are limited.”

Commissioners agreed to continue deliberating the matter.