Alabama district's school board approves $120 million bond

Thursday, August 21, 2014

The Alabaster Board of Education tonight voted to allow its investment bankers to raise roughly $120 million through the sale of bonds Thursday for construction of a new high school, renovations and other services for the district.

"It's an exciting day," board President Adam Moseley said in an interview after the special meeting. "We'll be able to do a lot for the children in our system, from new technology to new buildings to renovation of our existing buildings."

The school district is planning to obtain roughly $108 million in tax-exempt bonds that will fund various projects including construction of the new high school on part of 301 acres surrounded by neighborhoods north of Kent Dairy Road and east of Highway 17.

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