USD 383 to mull refinancing 2009 bonds | Education – Manhattan Mercury
The Manhattan-Ogden School Board will consider refinancing some of the district’s 2009 bonds at its meeting Wednesday.
The meeting is scheduled to start at 6:30 p.m. at the Robinson Education Center, 2031 Poyntz Ave.
The district received about $97 million in the 2008 election, and $129.5 million in the 2018 election. Altogether, the outstanding debt is $220,247,195.
At the meeting, the board will consider refinancing just under $4.5 million that is part of the 2009 series. Director of business services Lew Faust and assistant superintendent Eric Reid wrote in a memo to the board the refinancing would save the district $103,125. The refinancing would be good through September 2021.
At the meeting, the board also will consider signing a memorandum of understanding to work with a local church for part of the bond construction.
Upcoming construction projects at College Hill Early Learning Center, 1609 College Ave., will displace students, so the district is considering a partnership with Trinity Presbyterian Church, 1110 College Ave., to host the children.
The church previously ran a preschool at site but has not continued the program, Reid wrote in a memo to the board. The district would pay $7,000 per month as well as utilities like water, sewer, electric and gas, which would come out of the bond proceeds.
The agreement would start June 1 and last a year, which could be renewed until the construction is completed. The agreement includes both indoor and outdoor spaces.
According to the contract, the church will provide educational spaces and restrooms on the lower level, as well as private spaces for student therapy and up to 20 percent use time of the fellowship hall for early learning programs from 7:30 a.m. to 5:30 p.m. Monday through Friday during the school year.
The school district will provide phone lines and equipment, furniture and materials for the school.
At the meeting, the board also will consider getting rid of the mobile units at College Hill. The school will not need the 62-by-30-foot and the 65-by-25-foot double-wide trailers after the bond construction projects at the preschool are finished.