Why did the Fayetteville School Board authorize an election now?
In June the district was awarded $31.4 million of 0% interest Qualified School Construction Bonds (QSCB) that can be used for completion of Phase 2 of the new high school, but only if Fayetteville voters pass a millage increase by December 2010. The QSCB program is a federal program that allows a school district to obtain no or low-interest financing. The Board decided to provide the taxpayers the option to take advantage of this unique opportunity that will not occur again in the foreseeable future.
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