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District 202 Fulfills Responsibility To State
For a new high school, the Capital Development Board requires the Knoxville school district to pass a resolution on how they intend to pay for their portion of the project.

At a special meeting held by District 202 Monday night the board did just that.

Superintendent Steve Wilder tells WGIL District 202 had a responsibility in letting the development board know the maximum local share can be afforded.

"It was important for us to research that number and come up with a number we are comfortable with," Wilder says. "At the same time, we've not made any committments in terms of borrowing funds to start that project quite yet, we've just proven to the Capital Development Board that we can afford that local share. Once an agreement is put in place, then we can sit back down and real crunch numbers and identify that final numbers we want to borrow."

The state projects a cost of 31 million dollars for a new Knoxville High School.

In covering their 36% share, District 202 plans to pay back 8 million dollars in alternative revenue bonds over the next 25 years.

Wilder says the remaining 3.5 million of a total 11.36 million dollar local share could potentially come from life safety bonds.
08 30 11 by Newsroom
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