Apollo-Ridge explores bond issue for project list
The Apollo-Ridge School District is contemplating a new bond issue.
The school board said Monday night the maximum issue would be $3.5 million and the minimum would be $1.4 million.
Among the projects on the wish list are updating the heating, ventilation and air conditioning system in the secondary schools, renovating the entrance doors to enhance security and looking at either re-sodding Owens Field or installing artificial turf.
School officials felt the time is right to secure bonds with favorable interest rates.
One thing the school board doesn’t want to do is borrow more money than needed.
“We want to spend because we need it,” said board President Greg Primm. “We can get a number and always pare it back.”
The school district can consolidate a new bond issue with existing debt.
Apollo-Ridge currently has two outstanding bond issues totaling $11,619,432. Both issues will be retired in 2031 according to officials.
The school district has an October 15 deadline to apply for the bond. Because of that, the next board meeting will be on Oct. 8 at 6:30 pm. instead of the original date of Oct. 21.
George Guido is a Tribune-Review contributing writer.