The school board voted 5-0 during its regular meeting Tuesday to approve an application for a more than $1 million common school loan. Board members Mark Pavey and Nancy Kraft were absent from the meeting.
The funds from the loan will be used to replace interactive whiteboards, purchase desktop computers for Project Lead The Way Engineering Labs, add a new computer firewall system and instructional support computers.
As soon as the loan is approved, the district will be able to purchase the technology and then will be reimbursed by the state, according to Chief Financial Officer Tom Dykiel.
According to the application, Greater Clark has taken out two similar loans in recent years – a common school loan for nearly $5 million to fund the district’s 1:1 Initiative and other classroom technology; the other a School Technology Advancement Account loan for around $544,000 that also went toward the 1:1 Initiative.
According to Dykiel, the loan has a 1 percent interest rate and will be paid back over the next five years.
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