Northern Lebanon School District elects officers, authorizes $3M loan RFP and $3M capital transfer

Northern Lebanon School District board members met Dec. 2 for a reorganization session followed by their regular meeting, electing Barry Nam as board president and Choi Williams as vice president and approving several finance and construction actions to complete ongoing capital work.

President Barry Nam was elected by voice vote after being nominated and seconded; Director Williams was elected vice president similarly. The reelected directors — Martha Blau, Robert England, David Klein and Stacy Murray — were sworn in by the temporary president.

The board then addressed funding to finish construction and close out project costs. Administration recommended splitting a roughly $6 million need by seeking $3 million via a bank loan and transferring $3 million from unassigned fund balance to the capital projects fund to preserve reserves. The board unanimously authorized staff to work with municipal advisor PFM Financial Advisors LLC and bond counsel Saxton & Stump to issue a bank loan RFP for a $3,000,000 general obligation note (Item 7.3). The motion to authorize the RFP was moved by Director Englund, seconded by Director Moyer, and carried unanimously (9–0).

At the same meeting the board approved a $3,000,000…