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Selma schools receive interest-free bonds

MADISON — Selma City School System is one of several receiving an allocation of $236 million in interest-free bonds to help finance the construction of a new high school.

Gov. Bob Riley announced the bond funding to help construct Selma and 45 other school systems that applied for the money. This is the first half of the $236 million. The other 50 percent is anticipated in early 2010.

Selma received $20 million, one of the largest single allocations handed out Friday by the governor.