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$95 million bond approved for school


By Graham Sweeney
The Collierville Board of Mayor and Aldermen has approved a resolution that authorizes the issuance of a general obligation bond not to exceed $95 million in order to fund a new high school.
Board members voted unanimously for the bond Monday night during their regularly scheduled meeting.
The money will be used to construct a new high school, including athletic fields and facilities and the purchase of 160 acres of land.
After noting that some officials with Collierville Schools told him the high school would cost $3 million less, Alderman Billy Patton made an initial motion to authorize the issuance of a $92 million bond. The motion was not seconded and failed.
However, Alderman Tom Allen made a second motion which stated that if the school project came in under $95 million, that the remaining bond money could be used for road improvements.
The first debt service payment isn’t due until next July. Reserved funds from the 25-cent property tax increase and an additional $1.7 million from the half-cent local options sales tax increase will be used for debt payments each year.
Collierville will begin the project with town money before replacing the funds with the bond sale proceeds.
In other news:
Board members approved an amendment to the town’s temporary sales ordinance on first reading that lifts the town’s ban on door-to-door solicitation. Recent court rulings have held that municipalities cannot prohibit commercial door-to-door sales.
The new amendment is meant to comply with new legal standards that require the town to allow commercial door-to-door sales and “create a legal framework through which commercial solicitations can occur.”
Companies carrying out door-to-door sales will now be required to obtain permits from the town.
The ordinance will prohibit all door-to-door solicitations at addresses registered on a town “Do Not Knock” list. The town will create a web page where residents can register their address. Vendors will be prohibited from soliciting at these registered addresses.
The ordinance will also prohibit sales at residences with signs, stickers or placards indicating “No Solicitation” or “No Trespassing.” The town will design a non-solicitation sticker and make it available to all residents.

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