SA bond refinancing is in process

BERNE — Bond underwriters are watching the market and waiting for the right moment to price and sell a new bond issue that will help finance renovations and improvements at South Adams High School.
South Adams is in the process of re-financing the bonds that were issued when the middle school/elementary school building was constructed. Lower interest rates are expected to translate into savings that will allow for needed work on the high school at no additional cost to taxpayers.
“It might happen tomorrow. It may not happen this week,” superintendent Scott Litwiller told the school board Monday.
Litwiller said the creditworthiness of South Adams Schools had been reviewed by Standard and Poor’s.
“The long-term rating is AA+/Stable, and the underlying rating for credit programs is A+/Stable,” said Litwiller. “Curt Pletcher (of Umbaugh and Associates which is assisting with the refinancing) said that these are very good ratings for a public school.”
The firm of Stifel was selected as bond underwriters with the help of Umbaugh and board attorney Tim Baker.
While waiting for the bonds to be sold, Litwiller noted, school staff has been meeting with Performance Services to develop details of the scope and budget for the renovation project.
“A very preliminary, high-level scope and budget should be ready for the school board in August,” he said. “I think we’ll have it ready.”
The board unanimously agreed to contract with the Town of Geneva for a School Resource Officer at an annual cost of $48,466.11. That’s up about $3,000. Fifty percent of the cost will be reimbursed to the school corporation through a Secured School Safety Grant.
The board was also unanimous in approving textbook rental charges and fees for the 2016-17 school year.
Fees will be as follows: Kindergarten $77.85, first grade $134.61, second grade $125.64, third grade $106.54, fourth grade $101.09, fifth grade $104.93, sixth grade $125.92 (or $139.81 for students in band). Fees for students in grades seven through 12 depend upon an individual student’s schedule of classes.
In other business, the board:
•Approved a $30 per month cell phone reimbursement payment for 12 staff members —Susie Amstutz, Julie Baumer, Jason Arnold, Doug Beall, Michelle Clouser, Mark Cook, Trent Lehman, Shellie Miller, Myra Moore, Jeff Rich, Dave Vorhees and Litwiller — for the coming school year.
•Accepted the resignations of part-time aide Anissa Burson and part-time summer student custodian Daniel Steffen.
•Hired Michelle Leist as a speech language pathologist assistant, Miryah Boxell as a full-time special education aide and Ethan Blomeke as a part-time student custodian.
•Named Chad Mitchell girls soccer coach, Lori Fonte assistant girls soccer coach, Heath Moser volunteer assistant football coach, Sarah Ellenberger assistant cheerleading coach, Dustin Wanner assistant middle school football coach and Scott Steiner as an assistant high school football coach.
•Reviewed a budget adoption calendar that begins with a work session on Aug. 2, includes a public hearing on Sept. 13 and sets budget adoption for Oct. 11.
•Heard Litwiller review new state requirements on personnel background checks that now include an expanded child protection index check and checks to see if an individual has ever had a teaching license revoked.