Saturday, June 22, 2024
91.5 F
Beaver
Saturday, June 22, 2024
91.5 F
Beaver

Beaver School District Considers Spending $5 Million For New Pool – $9 Million In New Debt

The Beaver Area School District is preparing to decide if it will spend up to $5 million to construct a new indoor swimming pool. The vote comes as the district is also considering financing another $9 million in debt to start addressing more than $13 million in needed repairs to district facilities.

Board members discussed the proposed pool and debt financing Monday night at their monthly work session.

District business director John Hynes told board members that interest rates are currently low, and suggested now would be a good time to take on the additional debt for necessary facility repairs.

The district is currently spending approximately $2.6 million yearly on payments for existing debt totaling about $35 million. The new bond would bring the district’s debt load to $45 million, with yearly payments jumping to approximately $3 million.

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John Paul
John Paul
John Paul is an award-winning investigative journalist and founder of BeaverCountian.com. He's been profiled by Vanity Fair magazine and featured in thousands of news articles, tv shows, and books. An avid adventurer, JP has traveled to all 50 states in his journey to explore our country and its people.

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