TFS Celebrates Loan Pay-Off

Tallulah Falls - PRESS RELEASE - With a dramatic flourish, school leadership celebrated the pay-off of outstanding debt incurred in 2002 for dorm renovations at Tallulah Falls School. The school retired the $3 million loan for Westmoreland Hall and Fitzpatrick Hall as of Dec. 17, 2019. 

“We looked at our outstanding debts soon after I arrived at TFS and found we still had this dorm renovation loan on the books,” Peevy said. “We immediately worked out a different payment plan that would enable us to retire this long-term debt.”

Peevy invited the current board chair and four former board of trustees chairs to join him to mark the milestone at the Jan. 15 board meeting. 

Lining up at the front of the assembled board, former Tallulah Falls School Board of Trustees’ chairwomen Amy Atkinson, Ellen Alderman, Carolyn Freelander, Gewene Womack and current board chair Gail Cantrell joined Peevy to rip up the commemorative check marked “Paid in Full.” 

“As we celebrate the retirement of this debt today, I wanted you to have the privilege with me of making history by tearing this up,” Peevy said. “This is a great day for Tallulah Falls School!”

Photo:
E. Lane Gresham/Tallulah Falls School
Shown, from left, are, former Tallulah Falls School Board of Trustees’ chairwomen Amy Atkinson, Ellen Alderman, President and Head of School Larry A. Peevy, former board chairwomen Carolyn Freelander, Gewene Womack and current board chair Gail Cantrell.