County board approves interest rate on loan for capital projects

By Staff
Franklin County School Superintendent submitted interest rates from five banks to finance the $2 million needed to finish capital projects.
The board approved the rate of 4.03 percent provided by Bank Independent. Bill Moss, superintendent, stated that everyone should recognize that they were only approving the interest rate for the loan, not the loan itself. He said that would come later.
Last month, the board reported the $2 million gap for county building projects. These projects include the Vina multipurpose building, the Belgreen cafeteria and the Tharptown High School, Moss said.
The board approved various school trips for November, and a few for the spring semester. These trips will be at no cost to the school board.
The board elected to pay Tharptown Elementary Principle the $32,500 back pay adjustment. Hogan was paid less than other principles in the school district. The error in pay was due to a contract error from the late 1990s that predates this school board, Danny McDowell, board attorney, said.
The board also approved a salary adjustment for Principal William Smith's original salary for the 2006-2007 school year in the amount of $1561.
Moss did ask the board members to review the sick leave policy for faculty and staff members, and noted that the policy may need to be changed to prevent it from being abused. The sick leave policy will be discussed at a later time.
Before adjourning, Ms. Lavell Mayfield was recognized for her six years of service on the school board, and thanked for her hard work and dedication. Mayfield lost her school board seat in the last election.
The next Franklin County Board Meeting will be Thursday, November 30 at 5pm and the Board of Education's office.