The Oak Grove R‑VI Board of Education considered a parameters resolution to authorize refinancing (refunding) of a portion of the district's 2021 general obligation bonds and reviewed construction progress and several change orders related to the ongoing addition and locker‑room remodel.

Bond refunding parameters and timing

Joe (Piper Sandler) and an attorney, Megan, presented a parameters resolution that would allow the district to refund outstanding 2021 bonds once market conditions are appropriate. The presenters explained the mechanics: the 2021 bonds have roughly $5.8 million remaining; refinancing now could reduce interest costs and increase constitutional bond capacity by applying premium savings to reduce outstanding principal. Piper Sandler estimated gross savings in the neighborhood of $270,000–$280,000 (roughly $65,000–$70,000 per year) if market conditions hold; closing cannot occur until statutory dates allow and would be timed for a late‑year or early‑next‑year settlement.

The board discussed timing and market sensitivity. Presenters said waiting into January could produce incremental improvements but carried the risk of market volatility; the resolution would let staff act quickly if favorable pricing appears. The board voted to approve the parameters resolution allowing staff and advisors to proceed with a refunding sale when conditions met; the transcript records a motion, a second and the chair calling for "All in favor." (Motion and second recorded; individual board vote tallies were not recorded in the meeting transcript.)

Construction update and change orders

Tyler and district staff reviewed progress on the addition and the locker‑room renovation. Work on the addition is at foundation and slab‑on‑grade stages; the district and contractor expect walls and "dry in" milestones in the coming weeks. The locker‑room renovation is further along: plumbing and electrical inspections have passed and painting and epoxy flooring are scheduled, with flooring work preliminarily scheduled for late October/early November.

Staff described a drainage redesign (referred to as ASI‑3) that required civil plan changes after the project was bid; those unresolved site‑plan and drainage issues have delayed portions of the work and are creating schedule and cost impacts. District staff said they plan a collaborative meeting with the city, the civil engineer and the contractor on Oct. 29 to resolve drainage revisions and review adjusted costs and timelines.

The board considered several change orders (P.C.O. numbers and line‑item descriptions were presented) that included additional lighting work, hard liding in restroom/shower areas, door hardware changes, general‑conditions costs tied to permitting delays, elevator hoist beam work and adding temporary wireless access in renovated locker rooms (new Cat‑6 pulls and access points) because the new server room on the addition will not be available for some time. District staff explained these items as either unforeseen conditions in the renovation scope or schedule impacts tied to permitting and civil redesigns. The board approved the construction change orders as presented (motion by board member Jamie, second by another board member; vote recorded as "All in favor").

Playground grant opportunity

District staff presented a playground replacement option driven by safety concerns: a slide and other components on an approximately 25‑year‑old elementary playground are failing and require new footings and turf replacement. The district is pursuing a grant opportunity that would be a 100 percent matching grant; the proposed equipment package is roughly $74,000 and staff said the district would be responsible for about half if successful. Staff said capital project funds are available to cover the district share; no final procurement decision was made pending grant award.

Next steps

Staff said they will bring finalized refunding numbers for board ratification when available, and will report back after the collaborative Oct. 29 meeting on drainage and schedule adjustments. The board set the next regular meeting for Nov. 19 and noted the collaborative meeting with the city for Oct. 29.