The Waupaca School Board may look to borrow up to a million dollars to help finance a new athletic complex at the high school. That option was unveiled to the board’s finance commitee last night. The money would be in the form of a State Trust Fund Loan, administered by the State Board of Commissioners of Public Lands, at an interest rate of 3 percent. One hundred percent of interest paid on state trust fund loans goes back to public school libraries. A specific state statute gives the board authority to borrow up to a million dollars without going to referendum, according to Carol Wirth, the district’s financial advisor. Funding for the 2.3 million dollar project had included a million dollars in fundraising and community donations. District Business Manager Carl Hayek says while that is still the goal, fundraising dollars are likely to come over a period of years, rather than in the immediate future. He told the committee that even with a borrow, the project can still be done without an increase in the tax rate. Public schools are anticipating an increase in state aid in the governor’s budget, plus an increase in General Equalized Aid. Plus the district’s just completed audit shows a 430-thousand dollar surplus from the last school year, and the district becomes debt-free in 2018-19 when the high school debt is paid off. The finance committee voted to have the full board consider the state trust fund loan option at it’s April meeting.