Board approves bond sale to fund purchase of former Salt River property

NC GAZETTE / WBRT RADIO
STAFF REPORT

Tuesday, Jan. 19, 2015, 11:56 p.m. — The Bardstown Board of Education took the final steps Tuesday to purchase a 71-acre tract on Templin Avenue from Salt River Electric and ensure the school district’s ability to handle future growth.

The board approved a resolution to issue bonds to finance the $4.38 million purchase, and then convened as the Bardstown Independent School District Finance Corporation in order to approve the bond sale, which will take place next month.

Superintendent Brent Holsclaw said the district signed an agreement to purchase the property in June 2012 within 3 to 5 years. The delay was intended to give Salt River time to build a new facility.

The purchase will give the school district room for future growth. According to Holsclaw, researchers at the University of Kentucky predict that the county’s population for ages under 19 will grow 32.6 percent from 2010-2050 — well above the projected growth statewide for the same age group.

The first use of the property will be to move the district’s bus garage and storage to the existing warehouse building on the Templin property. Holsclaw also said the building has office space that the district may also wish to use.

Moving the bus garage will cut bus traffic on the Fifth Street campus by 50 percent, he said.

Future plans for the property include a school for second and third grades — a move that would remove a grade level from the existing primary and elementary schools. This would allow both schools to maximize their use of the buildings.

Funding for the purchase of the property will come from the sale of the bonds, and the funds are restricted to land acquisition and construction, and are not used for the district’s day-to-day operations.

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