Northampton Supervisors vote to proceed with bond sale for school renovations

The Northampton County Board of Supervisors voted to proceed with an October 19 bond sale to raise $42 million for the renovation of Northampton High School.

Following a public hearing at which no citizens spoke, the Board began the discussion of the bond sale. Currently rates are approximately 1.8%, and the Board followed the recommendation of County Finance Director John Chandler to place a rate ceiling at 3%.

Northampton applied to participate in the Virginia Public School Authority 2021 Fall Polled Financing and was approved. The County will receive the cash on hand for the renovations on November 9.

The initial plan to renovate the High School was estimated to be $25 million. However, at the August regular meeting, the latest estimates came in at $49 million.