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Monroe outlines gym-conversion, new-high-school timeline and bond financing steps
Summary
Superintendent and treasurer updated the board on the gym infill classroom project, the new high school procurement steps with OFCC and the district’s bond financing: a $15 million bond anticipation note issued and a second issuance being priced to complete project funding.
District leaders told the board on Jan. 13 that work on a gym infill project and steps toward a new Monroe high school are advancing while financing moves through a multi-step process.
Superintendent Mister Buskirk said the gym conversion (turning a jail gym into eight classrooms and converting locker rooms into small-group rooms and offices as budget allows) remains on schedule: staff expect to take possession of portions of the facility before the start of the next school year, with the full project complete in December 2025 if schedules hold.
On the new high school, Buskirk said the district is ready to move to construction but must complete administrative processes with the Ohio Facilities Construction Commission (OFCC). The board interviewed commissioning-agent candidates; Buskirk said the commissioning agent reviews quality control, HVAC systems, building envelope testing and systems controls and that the district was leaning toward a local firm interviewed for the role.
Treasurer Missus Moore told the board the district issued $15,000,000 in bond anticipation notes (first tranche) and was pricing a second issuance (pre-pricing completed; pricing scheduled the next day) to obtain the remaining proceeds referenced in the meeting (the transcript referenced a remaining amount of $21,750,000). Moore said proceeds from the notes appear in project funds (not the general monthly report), and that investor interest produced premiums that can be applied to debt retirement. She said the district will later convert the notes into regular bonds and establish an amortization schedule at that time.
Why it matters: The facility work and the financing steps are central to capacity and long-term budgeting for the district’s new high school. The treasurer said the district planned additional project-related financial reporting and would present certified tax rates when county certifications are finalized.
No formal vote was reported on construction contracts or bond authorizations in this portion of the meeting; the treasurer’s and superintendent’s updates were informational.
