Thursday, February 20, 2020
22.7 F
Beaver
Thursday, February 20, 2020
22.7 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 reporter and BeaverCountian.com's founder. He reports full-time for the site with an emphasis on watchdog journalism.

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In Your Opinion

.

newest oldest top voted
Mrs.Brightside
Member
Mrs.Brightside

Didn’t the new board members all run on fiscal responsibility? I’m all for providing amenities for the sports, but when the school buildings have issues and the academic programs could be better, I’d rather the money go toward items like that. Plus, our taxes are already high in Beaver. With the county reassessment coming this year, I have a real issue with taking on this much debt. We all know it’s going to be passed on to the taxpayers.

Sardonicus
Member
Sardonicus

Swimming in water, swimming in debt.

Just Peachy
Member
Just Peachy

Both can result in drowning

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