Saturday, May 30, 2020
66.9 F
Beaver
Saturday, May 30, 2020
66.9 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 reports full-time for the site with a focus on public watchdog journalism.

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