In December, a committee took on the task of reviewing the financial state of the City of Enterprise and its school board. Their goal was to find funding options to rebuild to Enterprise schools destroyed by the March 1st tornado.
The Citizen Study Committee on Enterprise Schools Reconstruction gave its funding recommendations Wednesday night after nearly two months of deliberations.
Chairman Whit Armstrong suggested for the city to issue a 30 million dollar general obligation bond issue for the deficit in funding.
It would be pays back in a maximum of 20 years but he hopes it is sooner.
"If we could get it down to 10 years I would feel so much better. I think Bill and I agreed that we didn't want to leave this lifetime and still have debt for our schools," said Armstrong.
The committee is also suggesting the city to allow a referendum to vote to renew a property tax currently in place and allocated to the Enterprise Health Care authority.
The tax expires in 2009 but they want to renew it and allow funding to go toward the schools.
Another suggestion was that the city adds a half-cent sale to partially fund the bond issue.
Superintendent Dr. Jim Reese says, “I think what we want is a first class high school and elementary school and I don't think any of us need to apologize for that,”
Mayor of Enterprise, Kenneth Boswell, says the next step toward agreeing on payment options is a public forum which will take place in the near future.