School Board closer to finalizing bond issue

Recent instability in financial markets prompted the Baldwin County Board of Education to wait a few days before selling a new $150 million bond issue, but that that action is scheduled to happen by Aug. 15.

On Thursday morning, the board unanimously approved a resolution that allows Superintendent Faron Hollinger, Chief School Financial Officer Jean McCutchen and Board President Bob Callahan to sign documents that allow the bonds to be sold, when conditions are most favorable.

That transaction will happen no later than Aug. 15, and the school system will then close the sale and receive the money the following week, McCutchen said.

Board closer to finalizing bond issue