CHARLESTON COUNTY, S.C. — The Charleston County School District (CCSD) has successfully sold approximately $49.3 million in general obligation bonds, a significant step in funding the construction of four North Charleston school projects. This funding will help cover the remaining construction costs for A.C. Corcoran Elementary, Morningside Middle, Deer Park Middle, and Midland Park Primary (with funds allocated for land acquisition).
Advancing the District’s Commitment to Equity and Excellence
CCSD Superintendent Anita Huggins emphasized that this bond issuance is about more than just funding physical structures. “This is about more than funding capital projects; it’s about honoring our commitment to equity and excellence,” Huggins said. “Every student deserves to learn in a safe, welcoming, and high-quality environment, and we’re doing it with a long-term, responsible approach to managing public dollars.”
The bonds will allow the district to move forward with its ambitious plan for improving schools in North Charleston, ensuring that students have access to modern, high-quality educational environments. This effort is part of a multiphase capital financing plan that was approved in 2023.
Strategic Milestone in Fiscal Responsibility
The $49.3 million bond was issued at an interest rate of 3.07%, which is below the market rate for AAA-rated bonds, which stood at 3.35% at the time of the sale. This rate represents a 56% decrease from the interest rate on the district’s first bond issuance in the series, leading to millions in projected savings for the district.
Leah Whatley, a Board Member and Chair of the Audit and Finance Committee, highlighted the significance of this achievement for the district and the local community. “This is an important step forward for our district and our community,” she said. “We’re delivering on our promise to be fiscally responsible while making critical investments in our schools. Securing this low interest rate shows what’s possible when we plan carefully, work together, and keep students at the center of every financial decision.”
Moving Forward with School Improvements
The issuance of these bonds marks a key moment in the district’s efforts to modernize its schools and create better learning environments for students in North Charleston. The funds will support both the ongoing construction of new school facilities and important land acquisition to further expand and enhance educational infrastructure in the area.
This marks just the beginning of the district’s long-term plan to improve and expand school facilities, ensuring that future generations of students benefit from top-notch educational spaces.
