AUG 11, 1986

Regarding a school district issued bonds to finance the construction of a high school. The remainder due on the bonds is $6.08 million dollars. The present balance in the sinking fund for payment of the bonded debt is $431,000. It is contended that the amount of the sinking fund is excessive. The question is whether the same is excessive?

Requested by: The Honorable Margaret D. Jackson, Clarendon County Treasurer

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