School ready for worst case scenario in construction project funding

The Barbourville Independent board spent a good chunk of the July 23 meeting talking finances, specifically the district’s bonding potential to pay for the construction projects. Discussions ended with good news: the district has enough in potential bonding to cover the total construction cost for a worst-case scenario.

Dr. Robert Tarvin, municipal advisor with Ross, Sinclair & Associates, broke down the numbers, showing the board they have more than ample bonding potential, coming in at $4,325,000, to cover the construction projects. As of Monday’s board meeting, it is unclear what the total construction cost will be. The board is currently in price negotiations for bids. With the current construction packages, the board is looking to include a screen wall and outside patio. With these alternate bids, the project totals in at $3,190,000, which is over budget.

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