Nevada County Picayune and Gurdon Times Newspaper Archive

Letter To The Editor

Dear Editor:

The Gurdon School Board is asking voters to help us make a very good business decision for our district on September 21. We need permission to sell $310,000 in bonds which will allow us to pay off two loans from the state revolving loan fund and generate $150,000 for the building program. This action will not increase the millage rate or raise taxes, but it simply gives the school permission to help our district.

Approval of the bond issue will also allow our district to take advantage of the Arkansas Educational Trust Fund which will pay up to 26 percent of the premium for the bond issue each year. Our current debt structure does not qualify us for the program. Only bonded debt is eligible. If approved, the bonds will be issued at a lower interest rate, and we will qualify for the state aid through the Educational Trust Fund.

Again, this action will not increase the millage rate or taxes. It simply gives the school permission to pay off our revolving loans with the bond revenue, and thereby allow us to qualify for the state program. However, this action cannot take place without voter approval.

Please vote yes to the bond issue when your go to the polls on September 21.

Jesse Runyan

Gurdon