Greater Latrobe OKs $12M bond issue for junior high roof replacement, stadium improvements

Greater Latrobe School District is moving forward with a $12 million bond issue to help finance capital projects, including the junior high roof replacement and an update of the Memorial Stadium track.

The move was approved this month by both the school board and the related school authority, which will issue the bonds.

At the same time, the district plans to refinance nearly $6 million in outstanding bonds from a 2018 issue, for an anticipated savings of at least $100,000.

The school board authorized a maximum bond issue of up to $20.2 million to comply with state regulations for local government debt.

District business administrator Dan Watson said of the planned borrowing, “$20 million is a big number. but it’s really $12 million.”

Scott Shearer of district consultant PFM Financial Advisors told the board at its recent committee-of-the-whole meeting interest rates for the 10-year tax-exempt bonds should be locked in near the end of October, with a closing date expected closer to Thanksgiving.

The bond consultants expect those rates to come in close to 2.88%, compared with the average 4% rate the district has been paying on the 2018 bonds.

“It’s a good time to be considering borrowing,” Shearer said.

Watson said a 1-mill tax hike approved by a 7-2 board vote in June is expected to cover the debt service for the $12 million in bonds.

He said the bond issue is intended to help with additional potential capital improvements such as maintenance and repair of building infrastructure — including units for heating, ventilation and air conditioning.

In June, when the school board awarded a $6.2 million contract to Island Contracting for the roof replacement, it placed a hold on proposed replacement of aging HVAC units on the roof.

The junior high project includes replacement of metal wall panels associated with the two-tiered roof that have played a part in leaks. The first phase of work this year is focusing on replacement of the central upper portion of the roof and the panels; the second phase will involve replacement of the roof’s outer lower tier.

“The crew is making steady progress, with a milestone completion expected later this fall,” Kurt Thomas, district director of facilities, operations and planning,” said of the initial roof work. “Work will continue as weather and field conditions allow, aiming for completion before the 2026-27 school year.”

Last month, the board awarded a $2.6 million general contract to Murn Inc. and a $776,000 electrical contract to Plavchak Construction for the track project.

That stadium project will expand the track from six to eight lanes, improve drainage, install LED lighting and update the track timing system. Wildcats home football games also take place at the stadium.

“Construction is scheduled to begin after the current athletic season and finish next summer,” Thomas said. “During construction, access to the track and field areas will be closed for safety reasons, but arrangements for the upcoming track season have already been made.”

Two dual track meets will be held away and three multi-school events Greater Latrobe usually hosts will take place at other local districts, Thomas said. A track at the senior high will be used only for practices.