Superintendent told $5.6 million bond with no tax increase

The “big news” out of the July 14 R-II school board meeting was what Supt. Mark Koca learned from the school’s financial experts.

He said he asked for the tax increase for $3 million and $5 million and he asked how much the school could bond with no tax increase. He said he expected the answer to be one or two million dollars. He was totally surprised when the answer was a $5.6 million no tax increase bond opportunity.

Koca said, “A lot of that has to do with the refinancing we did over the last five years, plus the early payments. That has put us in kind of a unique position here to be able to do that.”

The district property owners have a current tax rate of 54 cents per $100 valuation. That would continue. If the patrons do not approve an additional bond, that amount will decrease as the bonds are paid off.

All board members were present except Scott Cluck: Chad Whitesell, Benny Brower, Allen Hoover, Josh Floyd, Greg Beydler and Darrel Eason – presiding.

The board accepted a bid from Styles Roofing to replace a roof for $78,781.

The board approved the Elementary handbook.

Supt. Koca reviewed the district’s debt service accounts.

Supt. Koca said the district’s current bonding capacity is $10.47 million.

He said, “We are in really great shape in this respect. I don’t think anybody can fault our financial position at this time.”

The board had proposals from three energy contracting companies. Scott Mark, of 360 Energy Engineers, was present to discuss the possibility of the company doing the job.

Supt. Koca said, “This is a difficult decision to make just based on a bunch of paperwork in front of you.”

He suggested that the board interview the companies at the next board meeting. He said, “Sometimes I think the presentation gives you a a better feel for the people you are working with than looking at their paperwork.”

The board decided to interview the companies at the next meeting.

Supt. Koca said the district has been negotiating with Coke for a five-year extension on the contract in exchange for a commitment of $8,000 for a new scoreboard for the baseball field. He said the rest of the $20,000 cost is “supposedly coming from Community Bank.” The board approved the deal.

The board discussed a request to endorse a grant application for a new apartment building in the east Industrial Park. The board did not make a motion.

The board took up consideration of a reduced speed sign at Main and Pine St. at a cost of $11,382 and the City will install it. On a motion by Floyd, second by Beydler, the vote as unanimous.