Bond budget amendment looms large for borough - Kodiak Daily Mirror: Local News

Bond budget amendment looms large for borough

Posted: Friday, April 5, 2019 8:35 am

A House Finance Committee amendment to its proposed Fiscal Year 2020 budget to stop school construction bond debt reimbursement may end up costing the Kodiak Island Borough a hefty sum.

The committee on Wednesday voted 7-4 to eliminate the long-standing program, which has helped municipalities and school districts by paying the lion’s share of the costs for school construction bonds. The decision could save the state at least $99 million for school construction bond debt and $39.3 million for the state’s Regional Educational Attendance Area, which includes schools in an unorganized borough.

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