Jacksonville ISD:
JACKSONVILLE (KYTX) - Friday, February 8, 2013, the Jacksonville Independent School District Board
of Trustees approved the purchase of the Gymnasium, Administration Building, and
approximately 50 acres of land and assets from the Lon Morris Bankruptcy Estate
for $1,530,000, subject to the
Bankruptcy Court approval.
It is JISD's understanding that the Bankruptcy Court
will be considering the approval on Monday, February 11th. It is anticipated
that the closing will take place within the next 30 days.
The
assets being acquired had an insured value of almost $6.7 million and the land
has a value of over $100,000 for a total value of approximately $6.8 million.
As we stated, the purchase price was $1,530,000. This would be equivalent to
purchasing a $100,000 home for just over $20,000.
Dr.
Joe Wardell, JISD superintendent said, "We feel that this was an exceptional
opportunity for the District to acquire land and buildings at a great value to
better serve our students and our community."
