Statement on Purchase of the Collins Property
In December 2024, Braxton County Schools utilized the proceeds of lease revenue bonds issued by the Braxton County Building Commission to acquire certain parcels of land located in the vicinity of Braxton County High School (the “Property”). Due to recent misinformation circulating on social media, Braxton County Schools would like the opportunity to provide the actual facts and circumstances of that transaction.
The Property was acquired by Braxton County Schools from R L Collins LLC pursuant to the terms of a Purchase Agreement effective as of December 18, 2024. The Purchase Agreement reflected terms negotiated on an arm’s length basis and the same was approved by the Braxton County Board of Education on (i) August 20, 2024, at a duly held and noticed school board meeting that was open to the public, (ii) September 17, 2024, at a duly held and noticed school board meeting that was open to the public and (iii) December 17, 2024, at a duly held and noticed school board meeting that was open to the public. The official Minutes from the August 20, 2024, meeting may be found HERE. The official Minutes from the September 17, 2024, meeting may be found HERE. The official Minutes from the December 17, 2024, meeting may be found HERE.
The acquisition of the Property was financed by the issuance of lease revenue bonds in the principal amount of $2,100,000 by the Braxton County Building Commission. Through various public meetings, the Braxton County Building Commission enacted an Ordinance and approved a Resolution authorizing the issuance of the lease revenue bonds. As is customary in lease revenue bond transactions, the Property was then transferred to the Braxton County Building Commission via a quitclaim deed and immediately leased back to Braxton County Schools pursuant to a lease agreement. The lease agreement and lease revenue bond transaction were approved by the Braxton County Board of Education on December 17, 2024, at a duly held and noticed school board meeting that was open to the public. The official Minutes from the December 17, 2024, meeting may be found HERE.
All deeds and the purchase lease agreement have been filed with the Braxton County Clerk and are available for public inspection. The purchase history of the property with a link to the official deeds is below.
The property was purchased for $2.1 Million. It is 66 acres of property within view of I-79. This purchase price was significantly below fair market value at $31,818 per acre. Comparable property currently for sale in Braxton County ranges in price from $242,121 per acre to $440,000 per acre. Those listings may be found HERE and HERE.
The lease payments paid by Braxton County Schools under the lease agreement go to service the debt outstanding on the lease revenue bonds. This transaction structure allowed Braxton County Schools to finance the Property acquisition and spread the financial impact on its operating budget. In accordance with West Virginia law, Braxton County School’s obligation to make lease payments under the Lease Agreement is subject to annual appropriation and, upon the repayment of the bonds, Braxton County Schools may exercise an option to reacquire the Property from the Braxton County Building Commission for the nominal sum of $10.00.
The issuance of lease revenue bonds by a county building commission is a well-established process that is permitted and codified under West Virginia law, including Chapter 8, Article 33 of the West Virginia Code. Both Braxton County Schools and the Braxton County Building Commission followed all constitutional and statutory requirements in connection with the foregoing transactions, as evidenced by the transaction documents prepared by nationally recognized bond counsel and the public record of proceedings.
Braxton County Schools remains committed to transparency and ensuring compliance with all open meeting requirements. Separately, at the primary election on May 12, 2026, the voters of Braxton County will have the opportunity to decide whether the Braxton County Board of Education should issue public school bonds to finance the construction of a new Braxton County Schools Sports Complex. For more information regarding the proposed bonds and Sports Complex project, please visit https://bchs.brax.k12.wv.us/o/bcssc/page/bond-call.
Property Purchase Information
April 4, 2018, Collins Building and Contracting, Inc. purchased the property from Melissa Skidmore (Deed 623@537 found HERE), Rondal and Marjorie Bleigh (Deed 623@532 found HERE), and Mavis Bleigh (Deed 623@542 found HERE).
On August 26, 2023, ownership of the property transferred from Collins Building and Contracting, Inc. to RL Collins, LLC, both owned by Roger Collins. (Deed 656@ 672 found HERE.) The social media post incorrectly references this deed as the purchase by the Braxton County Board of Education.
On December 18, 2024, RL Collins, LLC sold the property to the Braxton County Board of Education. (Deed 667@246 found HERE)
On December 18, 2024, The Braxton County Board of Education filed a Quit Claim Deed giving so that the Braxton County Building Commission could secure financing. (Deed 667@252 found HERE. Once the financing is paid off, the property will revert to the Braxton County Board of Education. The Purchase Lease Agreement (Agreement Book 47@262 found HERE)
If you have questions, please email Dr. Tetrick at dtetrick@k12.wv.us, or message us on Facebook.