• Charter School Bond Deals Criticized Over Transparency, Academics

    Two Nashville charter colleges made use of a rare Metro board to issue tax-exempt debt for institution jobs in offers that went unnoticedfor months, but now are drawing extreme scrutiny.The charter schools authorities say they have actually been compelled to find alternative courses to finance their tasks due to the fact that they generally do not receiveMetro help with new college buildings and center upgrades.The deals approved by the City Health and Educational Facilities Board for Rocketship and Purpose Preparation charter colleges do not use regional taxpayer money and also include no provisions that would put taxpayers on the hook.But movie critics on the Metro Council and also the Nashville institution board state the charters ought to most likely to banks for personal financing and not utilize the facilities board, which can issue tax-free bonds for nonprofit groups.They routed especially sharp criticism at a$7.74 million in bonds for Rocketship, which is componentbelongs to a nationwide charter institution network.

    Categories: Private Financing

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