Tallapoosa County Schools to receive nearly $635K
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Bob Young of Frazer Lanier Company addresses the county school board about signing warrants and the closing documents for refinancing on the bond loans on the Reeltown and Horseshoe Bend projects

 Gabrielle Jansen / The Outlook

The Tallapoosa County Board of Education will receive nearly $635,000 cash before the end of the year for capital improvements and about $323,000 reduced debt service payments next year. The board unanimously passed a 2.66% bond rate and signed closing documents for refinancing on the 2010 bonds for Reeltown and Horseshoe Bend projects at its special-called meeting Monday.

Frazer Lanier Company president Bob Young said the board is saving $950,000 to $1 million in returns from the signing.