County To Save $10 million With Bond Application Approval

September 15, 2009 |

Clarksville-Montgomery County School System was selected as one of 28 school districts across Tennessee to receive $20 million in interest free bonds to pay for the renovation of Montgomery Central High School.

The full request was granted to CMCSS, thus saving Montgomery County taxpayers $10 million in interest payments. Of the 28 school districts that applied for the Qualified School Construction Bond Program, 11 were were granted stimulus funding to share in the $120 million available to districts outside Nashville and Memphis.

Montgomery Central High School after the renovations

Montgomery Central High School is 41 years old and was originally built with the open pod design, which creates safety concerns for students. The core capacity was not designed for the current number attending and does not comply with current federal regulations and codes.

“In addition to the County Mayor, County Commission and School Board, we want to thank Mary-Margaret Collier with the State Division of Bond Finance, the Tennessee Advisory Commission on Intergovernmental Relations, and Ron Graham with the Energy Efficient School Council for the confidence they have shown in this project and in this county,” said CMCSS Chief Operations officer Jim Sumrell.

The proposal was measured on specific criteria which included: the county’s ability to repay the loan; the system’s educational program innovations; facilities needs and compliance with mandates; and energy efficiency. The application was graded on a point scale, which determined qualification and acceptance.

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