The Culver Community School Board this week approved a motion to refinance the corporation’s pension bonds. Superintendent Brad Schuldt explained that the corporation had borrowed money many years back to establish a fund to pay off the retirement obligations of the corporation and have been making payments on that loan.

Now, however, Schuldt explained the corporation decided to refinance those bonds because of low interest rates. He said refinancing the bonds now would ultimately save the corporation more money.

The board approved a motion to refinance the bond – the total amount of which, Schuldt said, came to roughly $2.6 million.

The Culver Community School Board, in accordance with their 12-year rotation schedule, have accepted a bid from Midwest Transit to purchase two typical route school buses.

The Culver Community School Board gave their approval two weeks ago for the school to advertise for the purchase of two new school buses. Superintendent Brad Schuldt explained that this process is generally taken care of in the spring to allow the school to purchase two new buses over the summer.

Schuldt said the state currently has Culver schools on a 12-year service cycle for buses, allowing the school to purchase new buses to replace those that are 12 years old. Schuldt said that unless some catastrophic failure occurs, the buses are traded in after 12 years for credit on a new school bus, preventing the school from getting stuck with a massive unexpected bill for emergency repairs on several buses.

The Culver Community School Board this week gave their approval for the school to advertise for the purchase of two new school buses as part of their routine bus rotation schedule. Superintendent Brad Schuldt explained that this process is generally taken care of in the spring to allow the school to purchase two new buses over the summer.

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