MONETA, Va. -

The septic system at Moneta Elementary School is malfunctioning and needs to be replaced.

Bedford County leaders are planning to build a new utility line that will connect the school to a public sewer system.

The project is expected to cost more than $300,000, a bill the school system is prepared to pay in full.

"We do have the money to do the whole project, based on the estimates we have," said Randy Hagler, chief financial officer for Bedford County Public Schools.

Here's where the situation gets complicated.

A Bedford developer named George Aznavorian has offered to pay for 1/3 of the project, which amounts to roughly $100,000.

That's a lot of money for one person to give away, which is why Aznavorian is asking for something in return.

"He would like to receive pre-payment credits, which in essence allow him to have fees waved in the future as he builds and develops his subdivisions," said Brian Key, executive director of the Bedford Regional Water Authority.

The credits would come from the water authority, which would build and operate the sewer line.

Key says that type of agreement might cause his agency to lose money.

"He would receive $100,000 worth of credits, so that would be $100,000 of lost revenue in future years," Key said.

The water authority will have to decide whether to accept Aznavorian's proposal at their next board meeting July 15.

School leaders are hoping the agreement will be approved.  Even though they have enough money to pay for the sewer line, Aznavorian's offer would be a huge help.  The school system would save $100,000, which would be used to fund other maintenence projects in the county that had to be put on hold when the sewage problem appeared.

Regardless of what happens, school leaders say Moneta Elementary will still be able to open on time this fall.

"The one drain field that was still operational at the end of the school year, we anticipate that to still be operational when we start school in the fall," said Hagler.  "We don't anticipate any disruption of school next year."