Monroe Co. School District Drops Bond Plan
ABERDEEN, MS (WCBI) – The Monroe County School District says it is not going to follow through with plans to hold a special referendum in order to issue up to $10 million dollars in bonds.
Superintendent Scott Cantrell says the board cancelled the plans because of a sudden drop in property value assessments. Cantrell adds because property values directly impact how much of a tax burden citizens and businesses would bear the board felt it would not be proper to pass the bonds when it could not accurately tell residents what their taxes would be in future years when property values rebound. Board members say they are not totally abandoning physical plant improvements for the district but will fund those in the traditional manner rather than a bond issue. The idea of bonds will be revisited when the board can see if the property value drop is a one time thing or a pattern.
BELOW IS THE DISTRICT’S ENTIRE STATEMENT ON THE DECISION
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