The 2010 and the 2012 Warrant (Bond) Issues

The Hoover Board of Education has $184 million in outstanding long-term debt. That’s just the principal. The interest on the long-term debt, assuming it is paid on the schedule indicated in the FY13 audit, equals $126 million.

Here is “Note 7 – Long Term Debt” located on pages 22 through 24 in the FY13 audit, which outlines details of the long-term debt payable by Hoover City Schools. Click the image to make it larger, or click this link to view the full FY13 audit posted on the Hoover City Schools’ web site.

Long-Term Debt from FY13 Audit

 

Here is the Official Statement regarding the 2010 Warrant Issue.

Here is the Official Statement regarding the 2012 Warrant Issue.

There is a lot of interesting information in those two documents.

Here is an article from al.com’s Kyle Whitmire, written in July 2013, regarding the debt and deficit spending.

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