By Randall Higgins
CLEVELAND, Tenn. —; The Cleveland City Council expanded budgets for two city school projects today, but it avoided a property tax increase for now.
The council approved an additional $1.7 million bond issue for renovation work at Arnold Memorial Elementary School. The council had previously allowed $2 million for the project before bids were opened last week.
The bond is expected to be repaid from funds raised by Bradley County Schools to build at least one new elementary school in the near future. By law, the city gets a share of money the county raises for education projects. If the county doesn’t act, the Council will raise property taxes by 2 cents per $100 of assessed value for the 2008 fiscal year.
The council also approved a $4.7 million bond issue for geothermal heating and cooling systems at Arnold and the future Mayfield elementary schools plus Cleveland High School. The bonds are expected to be repaid from energy cost savings and state BEP funds.
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See tomorrow’s Chattanooga Times Free Press for full coverage.