Gov. Riley Announces Interest-Free Bonds To Help Madison Build New School
MADISON, AL - A big boost Thursday for plans to build a new high school in Madison. Governor Bob Riley came to town to announce the city is getting around $36 million in interest-free bond money.

City school leaders say this will help Madison build its $61 million dollar high school, which is set to be ready in 2012.

The bond money is part of the "Qualified School Construction Bond Program", to help schools state-wide get money more quickly for repairs and reconstruction.

Governor Riley said this was part of a recovery act that President Obama's administration set up.

"I think it is going to allow us to do something, that not only creates jobs today because it helps with the construction industry but also allows us to meet some fundamental needs that are out there," Gov. Riley said.

A new high school is a big deal for Madison, because it's one of the fastest-growing cities in Alabama. Right now, Bob Jones is the only high school in the city.

Madison Superintendent Dr. Dee Fowler said the school district is working against the clock, trying to meet the expectations that will come when thousands of people move to the area.

"We're trying our best to prepare for BRAC and also for our students that are already here," he said.

The entire program has about $236 million that's going out to all school systems in the state that applied for the bonds.