Madison Co. committees talk funding for school upgrades, new jail

JACKSON, Tenn. — The Madison County Financial Management Committee and the budget committee held a joint meeting Wednesday.

They were discussing how much money they could borrow for school improvements and the new jail being built.

Several ideas were thrown around on how to split the money between the two and when the best time to borrow would be.

After an hour, they came to an agreement.

“To borrow $40 million, with 30 of that being earmarked towards the jail and 10 towards school capital,” Jason Compton said.

They will meet again next week to hear how much the interest will be on the $40 million.