Board approves bond refinancing resolution, hears construction updates and appoints new building corporation member

The board approved a resolution (referred to in the packet as "Exhibit A") directing the school building corporation to pursue refinancing of district bonds.

Mr. Hoon told trustees that interest rates have declined since the district’s 2016 bonds and said refinancing "is going to be able to flush through somewhere between half a million, three quarters of a million dollars in proceeds," asking the board to approve Exhibit A. The board moved, seconded and voted by voice to approve the resolution in the meeting.

During the construction update, staff said bid documents for the restructuring plan (work on Weston Harris/Greenfield Intermediate and Maxwell) are out and sealed bids will be opened on April 28; staff also briefed the board on punch-list items and said athletes could begin using the Greenfield Central High School West tennis courts once temperatures are consistently above 50°F and landscaping and final restroom/storage work are complete. Separate background information about a potential solar project for Greenfield Central Junior High School was included in the board packet for review.

The board also accepted the resignation of long-serving building corporation member Digby Terry and approved appointing former assistant principal Dave Beal to the building corporation to fill the vacancy.

Staff said refinancing proceeds would be used to lower debt service and provide net positive benefit to the school corporation; the administration characterized the action as a routine debt-management step.