So, where do we get the money?

Okay, we've talked about why we need two new schools and we've talked about cost of building them, but given the recent budget battles with city hall over school funding, it is reasonable to wonder where we are going to get the $9 million for the two new schools.

It is my understanding that the money will be bonded as it was for all the other new schools we've built. The difference is that we do not have to bond the full amount. In the past, we had to take out a loan for the entire cost and then get reimbursed by the state. The new plan is letting us 'pay as we go' and only bond and pay interest on our portion of the cost. The bottom line is that because some of our old debt is being retired, the actual out-of-pocket cost will NOT increase.