The Oregon-Davis School Board has decided to keep moving ahead with planned heating and cooling upgrades, despite some surprise at the potential cost. Board members had been under the impression that bringing the HVAC systems at the two schools up to date would cost a total of $6 million. But the list of projects presented Monday by guaranteed savings provider EMCOR totaled almost $13.2 million.
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Financial arrangements are in place for North Judson-San Pierre Elementary School’s $10 million renovation project. Bonds will be issued using the lease-rental process, in which the ownership of the property is transferred to a legally-separate building corporation and leased back by the school, with the rent covering the cost of the bond payment.
Continue readingThe North Judson-San Pierre Elementary School renovation project took another step forward Tuesday. The school board passed a series of resolutions to begin the financing process for the $10 million project. No concerns were raised during two public hearings.
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North Judson-San Pierre school board members took a few major steps in the General Obligation Bond process at their Tuesday night meeting.
A public hearing was held over the proposed bond issuance, which will be for a total of $1.1 million. Curt Pletcher from Umbaugh provided a general overview of the bond process, explaining that it will take the place of the 2006 bonds that will soon be retired. Continue reading
Two resolutions were passed Tuesday night that will allow the North Judson-San Pierre School Corporation to move forward with their lease rental bond project. The resolution approving the form of lease agreement and the resolution approving the issuance of series 2017 bonds received unanimous board approval.
Attorney Thomas Peterson explained that the resolution approving the form of lease agreement authorizes officers to sign the lease that has been before them since June. Before they could sign the lease, the board had to follow proper protocol, such as holding a public hearing over the lease agreement. Peterson mentioned this was one of the final formalities involved in the process. Continue reading
