DALTON, Ga. — Less than a week after Dalton voters approved the issuing of more than $50 million in bonds to allow the city’s school system to purchase land and build a new facility for sixth- and seventh-grade students, the board of education voted to change the amount it will borrow.

Downward.

During Monday night’s meeting of the board, the board voted unanimously to use money currently available to the system for the initial purchase of the land from the current Education Special Purpose Local Option Tax (ESPLOST). The ESPLOST IV expires in December, but Dalton Public School Chief Financial Officer Theresa Perry said the $1,758,040 purchase price of the 63.7 acres to be used for the system’s tenth school can be made from funds remaining in the ESPLOST IV balance. The board voted without public discussion.

Voters had approved a general obligation bond ballot item of up to $50.65 million, but with the reduction of the purchase price of the property and the removal of a $2 million state capital grant which would have had to have been paid back, the actual borrowing debt for the bonds will now be $46.89 million.

“You still would have a remaining balance of about $450,000 for some other project that might come up,” Perry said.

The payment for the property — located between the North Bypass and Brooker Road across the street from the current location of Dalton Middle — will come in two payments. The board will pay $350,040 in realtor fees for 38.1 acres of land which has been donated to the project by Dalton By-Pass Properties LLC. Bryan Hair is listed as the principal owner and was the principal owner of Hammond Creek Capital, which was listed as the owner of the property according to Whitfield County tax records. Kinard Realty and Dobbins Investments LLC will be paid equally on the realtor commission.

The remaining 25.6 acres will be purchased by the board from Dalton By-Pass Properties at a cost of $55,000 per acre for a purchase price of $1,408,000.

The new sixth- and seventh-grade facility is designed to reduce the number of students at Dalton High and Dalton Middle.