Refinancing to save USD 410 $352,500


 Unified School District 410 Board of Education approved at its May 13 regular meeting refinancing its bonds for a savings of $352,500.

The action followed the Tax Equity and Fiscal Responsibility Act hearing, which is required before approving and issuing tax-exempt bonds that could benefit a private entity, in this case Tabor College.

The board also approved the Tax and Securities Compliance Procedures Resolution regarding written policies and procedures required by the IRS.

Last month, a representative of Piper, Jaffray and Co., which manages the district’s bonds, met with the board about refinancing. He said he anticipated a savings of $200,000, based on interest rates in April.

But a decrease in interest rates since then has resulted in greater savings, Superintendent Steve Noble told the board.

“Timing has been very favorable (for the district) with Piper and Jaffray,” Noble said.

During the Learning Showcase, two Hillsboro High School students—Micah Mashburn and Jordan Bezdek—presented their design for redoing the HHS courtyard project, including landscaping for plants and rock. They took on the project in their Production Management class.

Max Heinrichs, HHS principal, reviewed changes for next year’s student handbook. Also, Noble reviewed proposed handbook changes for both Hillsboro middle and elementary schools.

Next month the board will take action on the changes.

In other business, the board:

• approved entering into a lease agreement with Midwest Single Source for a postage meter.

• approved Kathy Decker’s decision to decline the write-in election for Position 6 on the USD 410 Board of Education.

• rejected all Chevy Suburban bids and issued a re-bid for 2014 specs. Those bids will be reviewed at the June 10 meeting.

• approved the contract with Prairie View for use of Hillsboro Elementary School this summer.

• approved the termination of Tim Kersten as HES custodian; the retirements of Evan Yoder as HES principal, effective June 1, and John McMinn as mechanic; and the resignations of Monica Leihy as Family and Consumer Science teacher, Sheila Nuss as bus driver, Carolyn Brazil as HHS secretary, and Nancy Hofer as English for Speakers of Other Languages aide.

• approved the HES principal contract for Yoder, effective Aug. 1, as well as the supplemental contracts for the district.

• heard from Noble regarding the Marion County Health Needs Assessment Survey, which is part of a grant to allow county to expand health care. Board members were asked to complete the survey.

Noble announced HHS graduation would be at 4 p.m., May 18, at the Joel Wiens Stadium, and the fourth annual end-of-the-year celebration will be May 21 with a hot dog feed and ice cream sandwiches.

• met in executive sessions for matters of personnel and negotiations.by Aleen Ratzlaff

The Free Press

Unified School District 410 Board of Education approved at its May 13 regular meeting refinancing its bonds for a savings of $352,500.

The action followed the Tax Equity and Fiscal Responsibility Act hearing, which is required before approving and issuing tax-exempt bonds that could benefit a private entity, in this case Tabor College.

The board also approved the Tax and Securities Compliance Procedures Resolution regarding written policies and procedures required by the IRS.

Last month, a representative of Piper, Jaffray and Co., which manages the district’s bonds, met with the board about refinancing. He said he anticipated a savings of $200,000, based on interest rates in April.

But a decrease in interest rates since then has resulted in greater savings, Superintendent Steve Noble told the board.

“Timing has been very favorable (for the district) with Piper and Jaffray,” Noble said.

During the Learning Showcase, two Hillsboro High School students—Micah Mashburn and Jordan Bezdek—presented their design for redoing the HHS courtyard project, including landscaping for plants and rock. They took on the project in their Production Management class.

Max Heinrichs, HHS principal, reviewed changes for next year’s student handbook. Also, Noble reviewed proposed handbook changes for both Hillsboro middle and elementary schools.

Next month the board will take action on the changes.

In other business, the board:

• approved entering into a lease agreement with Midwest Single Source for a postage meter.

• approved Kathy Decker’s decision to decline the write-in election for Position 6 on the USD 410 Board of Education.

• rejected all Chevy Suburban bids and issued a re-bid for 2014 specs. Those bids will be reviewed at the June 10 meeting.

• approved the contract with Prairie View for use of Hillsboro Elementary School this summer.

• approved the termination of Tim Kersten as HES custodian; the retirements of Evan Yoder as HES principal, effective June 1, and John McMinn as mechanic; and the resignations of Monica Leihy as Family and Consumer Science teacher, Sheila Nuss as bus driver, Carolyn Brazil as HHS secretary, and Nancy Hofer as English for Speakers of Other Languages aide.

• approved the HES principal contract for Yoder, effective Aug. 1, as well as the supplemental contracts for the district.

• heard from Noble regarding the Marion County Health Needs Assessment Survey, which is part of a grant to allow county to expand health care. Board members were asked to complete the survey.

Noble announced HHS graduation would be at 4 p.m., May 18, at the Joel Wiens Stadium, and the fourth annual end-of-the-year celebration will be May 21 with a hot dog feed and ice cream sandwiches.

• met in executive sessions for matters of personnel and negotiations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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