WARREN, Ark. – The Warren School Board has given the green light for the financing of a state-of-the-art solar farm.
The decision was made during a special called meeting on January 25, 2024, where President Joey Cathey presided over the proceedings. The meeting, attended by board members Joel Tolefree, Shannon Gorman, Jerry Daniels, Dr. Kerry Pennington, and Greg Morman, began with President Cathey calling the session to order. A closed session portion was held at the outset, not associated with the decision on the financing of the solar farm.
Subsequently, the Board addressed a crucial resolution related to the issuance of second lien bonds. The resolution, now approved, empowers Stephens Inc., acting as the municipal advisor for the District, to file an application with the State Board of Education. This application seeks approval for the issuance of second lien bonds amounting to an estimated $2.45 million. The funds are earmarked for the installation and equipping of energy-saving equipment, prominently featuring a solar array. Additionally, the financing will cover the costs of issuance and underwriter’s discount allowance. Any remaining funds will be used for other capital projects and equipment purchases.
The motion for approval, set in motion by Dr. Kerry Pennington and seconded by Jerry Daniels, received unanimous support from the board members present.
The School Board had previously sanctioned a contract with Scenic Hill Solar, marking a pivotal step towards realizing the solar project. The newly approved financing now paves the way for the planning, development, and construction phases of the solar farm.
Scenic Hill Solar, the selected solar company which will construct the solar facility, is also engaged in a parallel initiative with the City of Warren.
The anticipated benefits of the solar farm for the School District include reduced electricity costs, long-term predictability of power expenses, insulation from rate increases, and a significant contribution to clean energy initiatives.
Saline River Chronicle will diligently monitor the progress of both the School District and City solar farm projects, providing regular updates as developments unfold.