SA OKs bond plan (9/15/04)

BERNE — The room was full, but the public hearing was quiet.

Despite a packed room of mostly teachers, there was no comment during a public hearing Tuesday on the South Adams School Board’s decision to move forward and borrow approximately $855,000 to fund retirement and severance liability for retired and retiring teachers.

Following the public hearing, board members approved a resolution for the additional appropriation of $855,000.

On Thursday morning, South Adams Schools superintendent Connie Bailey, school board president Arlene Amstutz and a representative from the board’s counsel, Ice Miller Legal & Business Advisors of Indianapolis, will meet with the Indiana Department of Local Government Finance in Indianapolis to request permission to sell bonds.

The school corporation has until Dec. 31 to have the bonds issued by the state.

The $855,000 bond amount will be paid back in eight years with an estimated $230,894 in interest.

The school has about $3 million in unfunded liability for retirement and severance payments. The bond money will be used for the buyout and to set aside funds for future unfunded obligations.

Bond payments would be made with property tax revenues that otherwise would have gone for capital projects and bus replacement, and will not require an addition to the tax rate.

To complete the buyout program by the December deadline, the South Adams Classroom Teachers Association and the school board will have to reach and approve an agreement on use of bond funds by Nov. 15, Bailey said Tuesday.

Also Tuesday, board members approved the $26,700 purchase of a 2003 Ford Windstar and a 2004 Ford Taurus.

The vehicles will be purchased from Moser Motors of Berne and will replace 1996 and 1992 mini-vans, that will be traded-in for a total of $2,000.

The new vehicles are used to take teachers to conferences and meetings and for transportation of small groups of students, said South Adams School District transportation director Mitch Stookey.

In other business Tuesday, the board adopted the 2005 school corporation budget of $12,640,606.

The estimated tax rate would be about $2.21 per $100 of assessed valuation — up from this year’s rate of $1.29.

This budget is up $2,086,077 from this year’s budget of $10,554,529.

Also, board members:

•Voted to change a 2005-06 school year calendar decision made at a June board meeting.

The board voted that Friday, Oct. 28, 2005 the school corporation will be closed. Students will go half a day on Wednesday, Oct. 26 and Thursday, Oct. 27, 2005 and Monday, Feb. 20, 2006 will be a make-up day. This change also means the corporation will have an extra day added onto the end of the school year.

The board previously voted to close Feb. 20 to align the corporation’s schedule with area schools that have vocational students taking classes at SAHS.

Teachers present Tuesday requested the schedule change after submitting a signed request to change the 2005-06 calendar.

•Voted to keep drivers’ education fees at $275 per class. Classes for a minimum of 25 students will be offered this fall, winter and spring.

The class will be held before school and on some Saturdays, Bailey said.

•Approved the hire of Marah Steele as a Title I teacher and Della Steffen as a cook at South Adams Elementary School in Berne.

•Approved a retirement for Margaret Snow effective Aug. 31. Snow has worked in the cafeteria at the elementary school for 21 years.

•Approved the use of South Adams Middle School in Geneva for a Veterans Day program on Sunday, Nov. 7, at 2:30 p.m.

•Accepted extracurricular recommendations including Lana Sharp as South Adams High School sophomore class sponsor and Lisa Sheets as National Honors Society sponsor and SAMS sponsor.

•Approved a field trip for four SAHS FFA members to attend the FFA National Dairy Judging Contest in Harrisburg, Pa. from Saturday, Sept. 18 to Wednesday, Sept. 22.[[In-content Ad]]