City finalizes bond ordinance
Published 1:57 am Wednesday, February 21, 2018
The Andalusia City Council on Tuesday adopted an ordinance authorizing a $7.6 million bond issue for construction projects at Andalusia High School. The bond deal is expected to be finalized in the next 10 days.
In January, the city board of education approved a $9.3 million contract with Wyatt Sasser Construction for renovations at the stadium and auditorium. The contract represents a base bid. If all of the proposed project is done, it is expected to cost $12.245 million.
The school board has set aside $500,000 of its proceeds from a city-wide education sales tax in fiscal years 2016, 2017 and 2018. Rep. Mike Jones has secured $1.25 million in state funds, and the Public Education Building Authority has raised a minimum of $500,000 in private monies for the project.
With a $7 million bond, the system has $10.25 million for the project. The remaining estimated $1.99 million will be taken from reserve funds.