Scott City School Board to form bond issue committee

Scott City School Board members reached consensus at their meeting Wednesday to start looking for members of a committee for a bond issue that won't require a tax increase.

Voters approved a $3.5 million bond issue in 2001 that will be paid off in 2021, superintendent Diann Ulmer said. Proceeds from those bonds were used for an addition that houses the elementary, middle and high school, plus a variety of renovations, board president Scott Amick said.

Over the past few years, the district has refinanced bonds and lease certificates to achieve lower interest rates, Ulmer wrote in an email to the Southeast Missourian on Tuesday.

"Those refinancing actions have created savings for the district, as well as provided an opportunity for additional options with regard to our facilities," Ulmer wrote.

If there is a bond issue, it would be for about $1 million and would not require a tax increase, Ulmer said Wednesday. The committee would look at options and make recommendations to the board on what to use the funds for, she wrote in the email.

If the board moves forward with a bond issue, it would be placed on the April 2015 ballot, she said Wednesday.

In November, the board heard a presentation from representatives of LJ Hart & Co. in St. Louis about issuing general obligation bonds to provide funds for facility improvements to pay off the existing lease financing, Ulmer wrote.

The district has a 49-cent debt service levy, Ulmer wrote. "After analysis of the payment schedule information, the district has some different options available to it. One option would be to consider future building needs where a new money bond issue could be as large as $1,100,000 and not require an increase in the 49 cent debt service levy.

"Another option would be to consider a bond issue to prepay callable lease certificates in an effort to make additional operating funds available that are currently used to meet the annual net lease payments.

"A third option would be to consider maintaining the current levy by performing a prepayment of $225,000 on the outstanding bonds with approval of the board of education as part of the tax rate hearing process for the next fiscal year," Ulmer wrote.

In other business, the board:

• Approved the 2014-2015 calendar. The school year will start Aug. 13 and end May 20. Makeup days will be Dec. 19, Dec. 22, Dec. 23, Jan. 19, Feb. 16, March 20, April 2, April 6, May 21 and May 22. Board vice president Beth Cox expressed concern about the days just before Christmas being makeup days because families might be traveling. So far this year, the district has missed 10 days because of weather, Ulmer said.
• Approved the Comprehensive School Improvement Plan, which is updated yearly. It lays out district goals and data in a variety of academic areas. A committee of Ulmer, principals, teachers, board members and students compile it. Ulmer said it was completely revised this year to be more in line with MSIP 5, the newest version of the state's accountability standards, the Missouri School Improvement Program.

rcampbell@semissourian.com

388-3639

Pertinent address:

3000 Main St., Scott City