It was a busy night for area school boards as the Princeton R-5, Laredo R-7, Tri-County R-7 and Newtown-Harris boards all held meetings.
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Princeton R-5
The Princeton R-5 Board of Education approved a refunding bond resolution and hired a teacher during its meeting.
The board authorized the sale of $1,510,000 General Obligation Refunding Bonds at an average interest rate of about 1.94 percent compared to the Series 2006 Refunded Bonds, which carry an average interest rate of about 4.20 percent. With these lower interest rates, the district reduces the future interest expense by $209,620 from the original Series 2006 Bonds maturing from March 1, 2012 through March 1, 2021. This $209,620, plus the savings of $455,937 from the Series 2009 Refunding Bonds, brings the total interest savings to $666,557 and shortens the final maturity on the original Series 2006 Bonds for eight full years.
Princeton R-5 Superinten-dent Terry Mayfield said Roger Adamson of L.J. Hart and Company of St. Louis prepared the refunding proposal and indicated that Farmers Bank of Northern Missouri purchased $250,000 of the Refunding Bonds to support the district, which was very helpful to the success of the financing. Mayfield expressed enthusiasm and support for the refunding option selected by the board of education and was also pleased that efforts were made to accommodate the local individuals and banks.
“It is nice that our marketing procedures facilitated this local involvement while still receiving attractive interest rates,” he said. “With these savings, the district creates considerable flexibility in the future to present no-tax- increase building proposals with voter approval.”
Board President Linda Siemer pointed out that the $209,620 of interest savings for the Series 2011 refunding is not all the district may realize due to the refunding bonds having a call feature in 2014 at no penalty.
“If interest rates are lower in 2014 or later, we can take advantage of that,” she said. “Meanwhile, we are locking in these levels that are just over 2.25 percent lower than they were in 2006.”
Dr. Adamson mentioned that the three significant factors making the Series 2011 refunding possible were lower interest rates than in 2006; the fact that a portion of the Series 2006 Bonds are subject to prepayment on March 1, 2011 at no penalty; and the district’s ability to participate in the State of Missouri’s Direct Deposit Program. This program makes it possible for the district to receive a “AA+” rating from Standard and Poor’s Corporation on the refunding bonds. Dr. Adamson complimented Mayfield for his prompt and thorough preparations to supply the date necessary for the rating application and official statement, as well as the board of education for its foresight in making part of the Series 2006 Bonds callable within five years.
The closing for the Series 2011 Refunding Bond issue is to occur on Jan 20, 2011. Several board members complimented Mayfield and L.J. Hart and Company for developing an attractive refunding plan.
“It is nice to be able to save $209,620 of our taxpayers’ money and boost our total savings to about $665,557,” commented Stan Johnson, board vice president.
In other business, the board approved a review of the gifted program, heard a report on the Backpack Buddies Program, renewed the district’s property and liability insurance with CPSK, approved the final audit report and approved the awarding of one extra personal day to two teachers to be awarded at the faculty December luncheon.
Board members heard administrative reports on attendance rates, students of the month and upcoming activities and Mayfield discussed the Safe Routes to School Grant, APR report and heater repairs. The board was also informed that it will conduct the superintendent’s evaluation at the January meeting.
Following an executive session to discuss personnel, the board voted to offer a contract to Kinsey Batson to serve as an elementary teacher, beginning on Jan. 3, 2011.
The next regular board meeting is scheduled for Jan. 10.
Laredo R-7
Laredo R-7 board members offered a contract extension to the superintendent during Monday’s board meeting.
Board members voted to offer Dr. Kirk Mallette a contract for the 2011-2012 school year. His salary will be determined at a later date.
Board members also discussed the possibility of purchasing two buses from the Brookfield School District and voted to allow students in grades three through six to participate in the fifth and sixth grade basketball season. The health services and transportation programs were reviewed and approved and the MSIP Advance Questionnaire was reviewed. Board members also reviewed and approved the 2009-2010 audit report.
Several upcoming events were announced, including the Christmas program, 7 o’clock tonight; Christmas Movie, Dec. 17 (early out for Christmas break); board filing dates, today through Jan. 18 (except when the office is closed); Little Rascals basketball game, soup supper and staff vs. girls and boys game, Jan. 28 at 5:15 p.m.
The board is scheduled to meet again Jan. 10.
Tri-County R-7
The Tri-County R-7 Board of Education approved the senior trip and discussed the 2011-2012 school calendar during its meeting held at Jamesport.
Superintendent Phil Fox reported that the board has approved the senior trip to Florida in May. The board had tabled action on the trip during last month’s meeting.
The board heard a report from the Calendar Committee. The committee prepared three options for the 2011-2012 calendar for staff review. The staff will choose one option to be presented to the board for review and approval at the January meeting.
Board members reviewed the MUSIC insurance policy for the 2011-2012 school year. It also approved the addition of a $10 million umbrella policy to the present coverage. The board also requested information on cyber insurance offered by MUSIC.
In other business, the board heard a report from Fox regarding transportation needs for the district and reviewed policy updates provided by MSBA. The board reviewed program evaluations for vocational agriculture, library media center, instructional climate and transportation. In addition, an update was given on the repairs to the school van and needed repairs to the internal tank of the boiler in the high school. The boiler will need to have repairs over the Christmas break to fix a leak.
A discussion was held on the superintendent’s evaluation, with no action taken.
An executive session was held, with no announcement made.
The next regular meeting is scheduled for Tuesday, Jan. 11 at 7 p.m.
Newtown-Harris
Newtown Harris board members voted to renew the yearbook contract and heard a presentation during its meeting.
Superintendent Andy Anderson said the board voted to renew the yearbook contract with Walsworth Publishing for one more year and heard a presentation from Joe Steenbergen from the Northwest Missouri Wind for School Initiative. The board also agreed to search for an ELL teacher aide.
In other business, teacher reports were given by Linda Hague and Kelsi Parsons and fourth grader Mandy Tucker was recognized as Student of the Month. It was announced that the PTO Carnival had a $2,400 profit and over 60 persons attended the Grandpar-ents/Relatives Day.
Anderson noted that the School Report Card is on the website of the Department of Elementary and Secondary Education and said he is attending an MPR health insurance meeting in Independence on Wednesday.
Anderson said the basketball teams are involved in the HDC Tournament this week and said filing for school board positions begins today and runs through Jan. 18. The terms of Jack Wells, Chris Gibson and Steve Peterson expire. He also said classes in the district will dismissed at 11:30 a.m. on Tuesday, Dec. 21 for Christmas break, with students returning on Monday, Jan. 3.
The next regular meeting is scheduled for Jan. 10.