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Schools seek ability to borrow for daily expenses
Posted: 06.20.2011 at 2:11 PM
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(AP) -- South Carolina legislators must decide whether to override Gov. Nikki Haley's vetoes and allow several poor, rural school districts to borrow money to pay operating expenses.

The Republican governor says long-term debt should never be used to pay short-term expenses.

Bonds are normally issued to build new schools and pay for major renovations.

But officials in Colleton County, Florence District 4 and Hampton District 2 say they need a way to tide them over.

The district in the biggest pinch is Florence 4. The district has fewer than 800 students and has cut a quarter of its staff and raised taxes, but still needs $800,000 to pay bills already due.

The borrowing would be repaid in 2019. Colleton County is seeking $2.5 million it would pay off next year.

(Copyright ©2011 by The Associated Press. All Rights Reserved.)

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