By Rupert Howell

South Panola School District recently received the last of 10 in lieu payments from LS Power Company in the amount of $1.59 million paid annually according to Superintendent Dr. Keith Shaffer.

Shaffer explained to trustees at the February meeting Tuesday night that the power plant would now be put on the regular property tax rolls stating, “My prayer is it will be a wash—maybe a little better.”

Shaffer was referring to the amount of tax revenue the school district will receive from the plant once it loses the exemption and is put on the regular roll — hoping it will provide the same revenue without raising taxes.

Manufacturers and utility companies are often given tax incentives to lure them to an area. Although a 10-year exemption was made, the company agreed to pay an amount in lieu of taxes and also pays Panola Partnership approximately $30,000 a month for use of the water line from Enid Lake.

Approximately $750,000 of the school payment has been used as payment on a 20-year bond for South Panola High School which was completed in 2001. There are 10 more years of bond payments on that issue.

Also, district administrators will not make a recommendation of how to make up two of the days missed due to winter weather until their next meeting scheduled early next month.

Two holidays, Presidents’ Day and the Monday following Easter, have already been designated for makeup days. The district’s calendar originally had one extra day included leaving two of the five to make up.

Shaffer said he did not want to recommend Good Friday or spring break as families have already made plans, but did not rule either out.

“We’re not out of the woods yet,” Shaffer said reminding trustees that winter was not yet over and then asked that any recommendation be postponed until the March meeting.