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Cannon Falls School Board sells $775,000 facilities bond, awards high-school roof contract
Summary
The Cannon Falls School Board authorized $775,000 in general-obligation facilities maintenance bonds and approved Jackson & Associates to replace a section of the high-school roof after a competitive bid process; the district received a below‑expected interest rate and a premium that adds roughly $62,000 to project funds.
The Cannon Falls School Board approved the issuance of $775,000 in general obligation facilities maintenance bonds series 2025A and awarded the high-school roof replacement contract to Jackson & Associates after a competitive bidding process.
The board heard a presentation from Jeff Seeley, a municipal advisor with Ehlers, who said the district received three competitive bids and that “the low bid was a 3.82%.” Seeley told the board the sale produced a premium, “about $62,000 extra that goes towards the project,” which the district can use for contingencies or additional roof sections.
The bonds were structured to be paid from the district’s annual LTFM (facilities maintenance) allocation. Seeley explained the district has about $440,000 annually for deferred maintenance; with the new issue replacing an existing bond payment, the district will have roughly $335,000 a year available for other deferred maintenance projects once the new bonds begin principal payments in the 2026–27 school year.
On the construction contract, Director of Maintenance Steven (surname not specified in the record) told the board four bids were received for the roof work and that Jackson & Associates came in under the projected amount and has prior experience working on district projects. The board approved Jackson & Associates to perform the modified built‑up roof system replacement at Cannon Falls High School; staff said the contractor will perform most work after school hours and expects the project to take about 12 days.
Board members voted in the roll call approving the bond resolution and later approved the roofing contract by motion. No dissenting votes were recorded in the public minutes.
The board will use the bond premium and the LTFM annual allocation to fund the roof project and retain capacity for other deferred maintenance needs. Construction is planned for late summer or early fall, with work staged to minimize disruption to school activities.
