On Friday, 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 $1.53 million, subject to the Bankruptcy Court approval. It is our understanding that the bankruptcy court will be considering this 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.
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."
Tuesday, August 26 2014 5:57 AM EDT2014-08-26 09:57:06 GMT
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