January 10, 2022 at 6:30 PM - Regular Meeting

Description:  Crystal Johnson will share the administrative update.

Description:  Usually, the calendars are approved three years at a time.  There are some recommended changes to next year's calendar.  Below are the recommendations: 
1.  The Wednesday before Thanksgiving is a non-attendance day.  This will allow families to travel as needed. 
2.  Winter Break:  Students will attend on the 19th and 20th of December (previously off) and then return the 4th of January (previously the 2nd).

Description:  As previously discussed, I asked the bonding company to assist in providing information about additional bonding.  This conversation evolved from the high school renovations.  As it is now, Scott has said their sale of bonds will not affect tuition rates.  Here is the information he provided me:  "This was the last year of the original bonds sold back in 2000. We sold $3,000,000 WCB back in February and are in the process of selling $500,000 WCB more to finish off what we need for the sports complex minus the lights and concession/restroom building. These are BH bonds and do not plan on assessing the Coop HS anything for bonds. The lights were $505,00 before January but they expected that cost to go up 5-10%. The building was projected to be around $700,000 but that of course is on the high side."
We will further discuss on Monday and review options. Not sure where we wanted to go or if we even wanted to do anything but this is at least a starting point.  Here are the notes from our bond company to go with the attached document:
Page 6 looks at a $500,000 project fund, page 7 is a $600,000 project fund and page 8 is a $650,000 project fund. Each page take a look at a 5yr repayment (green column), a 10yr repayment (purple column) and a 15yr repayment (blue column).  You can see in each scenario that way the B&I levy is affected and then how that increase in tax rate plays out for a $100,000 home in the yellow box at the bottom of each scenario.
 
We can go up to a 20yr repayment (and even put more of the payment after the old bonds fall off in 2032) but given the "smaller" size of the borrowing, I thought this options would be a good place to start.