Bond pricing fails to meet school board's goal

 

The Tri-City United School Board held their reorganizational meeting on Monday, Jan. 14. Pictured above with Supt. Matt Helgerson (front, far left), they are Liz Krocak, chair, Denny Lang, vice chair, Deb Struckman; (back) Judy Baker, Marsha Franek, Amy Barnett, Brad O'Keefe, Kevin Huber, clerk-treasurer, and Kevin Krohn.  (Lori Nickel Photo)

 

The stock market is still volatile after the fiscal cliff of December, causing a less-than favorable response to pricing on the district's Series 2013A advance crossover refunding bonds, as report by Michael Hoheisel of Northland Securities. Superintendent Matt Helgerson shared the news with the board as a discussion item during the regular meeting held Monday, Jan. 14 at the high school.

The school board's authorized savings goal was to reach $950,000 through the sale of bonds, which would be used for renovations planned in the district for later this year. The higher the sale, the lower the renovation tax burden is for property owners.  

In a memo from Hoheisel, he states that they will continue to monitor the market in hopes of reaching that goal. He also recommended that they: "Get this done at what now may be 'the new reasonable savings level'". He added: "Sometimes it is better off to have something, rather than take a risk and lose everything." 

Board member Amy Barnett asked if this report changes the building plans in the district. Helgerson responded that it did not. He said that at the February board meeting, the board may have to pass a resolution to put together a more conservative savings goal if things did not change.

Reorganization

As with most governmental boards, the first school board meeting of 2013 dealt with many reorganizational items. The board decided that Liz Krocak will continue as chair, Denny Lang was voted vice chair, and Kevin Huber was nominated and voted into the clerk-treasurer position on the board. The board also approved the Le Center Leader as the district's official newspaper for 2013. 

New Hires

Under personnel items, new hires included Vicky Cihak, Lonsdale para, Allison Rise, Lonsdale special ed. para, Stephanie Balma, Montgomery para, Nick David, weight room supervisor, Colleen Sedivy, ECSE teacher at Lonsdale, and Peggy Linsmeier, ELL teacher at Le Center.