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Peoria County Gets Into The School Business



An issue which concerned some Peoria County Board members in committee, turned into a unanimous approval of a Quest Charter Academy loan.  The County Board Thursday night said OK to lending the charter school $500,000 dollars over 10 years at 3 percent interest.  The money will go towards expanding the school into the former Loucks-Edison and Columbia school facilities. Concerns were raised about the county getting into the school business.  But, one by one, the questions were answered before the vote.   Before the resolution, a protective amendment was made, to assure if the loan ever defaulted, the county would be in first position to recover it's debt.  The amendment and revised resolution passed by 18-0 margins.


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Topics: Business_FinanceEducation
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Locations: Peoria County