From left, bottom, clockwise, are Wilson County Mayor Robert Dedman, Karen Scott Neal, bond counsel, and Debbie A. Rammage, paralegal, both of Bass Berry Simms law firm; Thomas D. McAnulty, senior vice president of Public Finance at Stephens Inc.; Ashley C. McAnulty of Public Finance at Stephens Inc.; County Clerk Jim Goodall and County Trustee Jim Major.
JENNIFER HORTON / The Wilson PostBy JENNIFER HORTONThe Wilson Post
Bond counsel and financial officials gathered in Wilson County Mayor Robert Dedman’s office Tuesday to complete the signing of paperwork concerning the bonds sold for the new Lebanon High School.
“The bonds have been sold,” said Thomas D. McAnulty, senior vice president of Public Finance for Stephens Inc. in Nashville. McAnulty served as financial advisor in the bond sale. “The money will be wired to Wilson County on Thursday.”
The money he referred to amounts to $50 million for the construction of the long-awaited replacement facility for LHS.
The bonds were sold with an interest rate of 3.42 percent, “as a good rating since 1958,” McAnulty said.
He and others around the table in the conference room noted interest rates have not been this good since the 1960s.
McAnulty added that the county’s rate of 3.42 percent is a fixed rate and will remain at that rate until the bonds are paid off.
The bonds were sold through the Build America Bond program established under the American Recovery and Reinvestment Act of 2009. The bond program was designed to provide funding to state and local governments at lower borrowing costs.
Acknowledging that a new Lebanon High has been a long time coming, Dedman said the new school will replace the current facility that opened in the mid 1950s. The new school will be built on property located off Hickory Ridge Road and South Hartmann Drive.
Mickey Hall, assistant director of Wilson County Schools, said bids are due Thursday on the Clearing and Grubbing Package for the site and noted that 18 packets have been picked up.
He said officials hope to bid the construction of the new school by mid June.
Hall said the plan is for construction to begin this fall with occupancy set for August 2012.
Also assisting the county in the bond sale were Ashley C. McAnulty of the Public Finance office at Stephens Inc., Karen Scott Neal, bond counsel, and Debbie A. Ramage, paralegal, both with Bass Berry Simms law firm in Nashville.
Representing the county, in addition to Dedman, were County Clerk Jim Goodall, County Trustee Jim Major and County Finance Director Ron Gilbert.
Editor Jennifer Horton may be contacted at email@example.com.