Business & Education
Tue October 23, 2012
State Board Approves Bonds Sale for School Buses
A state board has approved the sale of $33 million in bonds to finance the purchase thousands of new buses for Alabama public schools.
The Alabama Public School and College Authority voted 2-0 Monday to approve the purchase of the bonds. Schools Superintendent Tommy Bice said state schools could buy as many as 5,743 buses with proceeds from sale of the bonds. But he said the number of new buses will likely be less because the money can also be used to pay off old transportation debt.
The board also approved the sale of $300,000 in bonds to replace roofs and do other repairs on schools in Randolph County.
The board declared its intent to issue bonds later to construct a training facility for Airbus in Mobile.
Copyright 2012 The Associated Press.