Fayette County Public schools seeking up to $73 million in bonds

Fayette County Public Schools is proposing changes to existing bonds.

According to a resolution for Monday’s meeting agenda the district is seeking up to $73 million in bonds.

$9.2 million will go towards repairs and improvements to Paul Laurence Dunbar High School. the school district is refunding $63 million in prior bonds which could generate an estimated $2 million in potential debt service savings.

The bonds are backed by the district’s “full faith, credit and taxing power.”

The document also says the district doesn’t expect to actually need a new special tax levy because it believes other money will be sufficient, but the pledge is there as a security measure for bondholders.

Credit: WKYT