Board updated on middle school design; officials outline bond revenues, contingency options

Superintendent Tony Mann updated the Molalla River School District Board on Jan. 9, 2025, about progress on the middle school capital project and the district’s bond finances, saying design work is moving from schematic design into design development and that the project remains on track and “on budget” within the published bond parameters.

Mann told the board the district’s bond issuance totaled about $77.6 million, issued on a 30‑year term at $1.55 per $1,000 of assessed value; that rate will step down in year 26 to about $0.81 per $1,000. He described three unexpected revenue sources that increased the project’s available funds: $7,130,000 in bond premium paid by investors at sale, an estimated $5,120,000 in interest…