1340 AM, Friday, September 5th, 2008
Lake Station Schools Borrow $3.2-Million To Pay Salaries
Last updated on Monday, November 26, 2007
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(LAKE STATION) - In an effort that will make it possible to pay salaries and utilities for Lake Station schools, school board members approved borrowing 3.2 million dollars.
The district is using tax anticipation warrants just to continue operating because the county is still waiting to receive its tax revenues.
This isn't the first time the district has borrowed ahead of getting tax revenues. However, Superintendent Dan Dehaven says the interest the district will have to pay on the borrowed amount is unfortunate.
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