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borrow up to $2 million for the capital outlay project, including money for both construction and equipment. “It’s a fairly easy process,” said Estabrook, adding that three major steps must be taken. First, Treasurer Frances Foster must report the status of county funds to the state. Second, the School Board must submit a curriculum plan, indicating the educational goals to be accomplished with the expansion-project. Third, the Board of Supervisors must pledge the willingness of the county to assume the indebtedness.
Previously, the rate on all literary loans was three percent. But since December, the rate has been tied to the borrowing locality’s composite index by which the state measures ability to
83.3%