Grayson to refinance $18M of school debt

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Move should save both the county and taxpayers money by lowering interest rates.

By Ben Bomberger, Reporter

INDEPENDENCE – Grayson County will seek permanent financing through the Virginia Public School Authority for debt associated with school construction, following a public hearing earlier this month.
Supervisors heard no comments during the hearing, in which County Administrator Jonathan Sweet proposed the issuance of an estimated $18 million general obligation school bond.
Sweet prefaced the public hearing by noting that the $18 million was borrowed for construction of Grayson Highlands School in the western part of the county and remodeling of Fries School.

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