Connellsville district to consider refinancing bonds
Connellsville Area School Board members on Monday night listened to a presentation by John McShane of Boenning & Scattergood concerning segments of the district's outstanding bond debt.
McShane said that he would recommend the board consider refinancing of bonds to take advantage of the lower interest rates available, which are substantially lower than when the bonds were secured in 2008 and after.
“Interest rates do fluctuate,” McShane said. “Rates are the lowest that they have been in 20 years. We are now looking at very good rates, very attractive rates. This would not increase the maturity of the loans and it would not increase payment. All you will do is lower your interest rates.”
The lowering of the rates could generate hundreds of thousands of savings, which could be used toward debt payments, he noted.
The board will review the report and could vote on it as early as its 7 p.m. Wednesday meeting or may plan a special meeting to further study the information.
Several supplemental positions and the approval of three leaves of absence from faculty and district employees will be discussed on Wednesday.
The board will vote on several items pertaining to costs associated with the high school renovations.
Also on the agenda will be approval to purchase textbooks and all Title I, II and III funding for the 2013-14 school year.
The agenda will include retaining for four-year terms Gene Cunningham as treasurer; Cherie Routzahn, assistant treasurer; Vicki McWilliams, board secretary; and Karen Marko, assistant board secretary.
Addressing a recent issue with a bus returning to one of the district's schools late, Director Kevin Lape suggested sending a memo to all elementary schools reminding them of the bus schedules for planning purposes.
“With all of the field trips that will now be going on, we have to make sure that the buses are back by dismissal so the buses don't have to be held,” Lape said.
Marilyn Forbes is a freelance writer.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Gun stolen from Fayette courthouse, used in suicide
- 4 seek 3 spots on Vanderbilt council in Democratic primary
- Snow removal ordinance discussed by Connellsville Health Board
- Fire damages state Rep. Ryan Warner’s office in North Union
- Connellsville gets spring scouring
- Laurel Highlands teacher ‘humbled’ by St. Vincent award
- Geibel grad dreams big, lands role in second feature film
- Connellsville-region grads to converge for Golden Reunion
- Uniontown Lady Red Raiders softball players playing with heart
- National veterans charity to receive funds raised in Connellsville pageant
- Lynn: Crazy Cowboy Band to perform at Dawson Brownfield center