Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance And Operations topic
No spam. Unsubscribe anytime.
Board approves $11M promissory notes, approves facility contracts and curriculum changes
Summary
The Manitowoc School District board approved the sale of $11 million in general‑obligation promissory notes, awarded facility contracts (tuck‑pointing, lighting), adopted a K–5 math curriculum, expanded youth‑apprentice positions and approved an updated SRO agreement; votes were taken by voice or roll call as noted.
The Manitowoc School District Board of Education approved a slate of finance and operations items, including the sale of $11 million in general‑obligation promissory notes to complete referendum borrowing, multiple facility contracts and several policy and personnel motions.
A district finance presentation reported that $11,000,000 in promissory notes were sold to complete the referendum borrowing; the Bank of Oklahoma submitted the winning bid and the settlement date was set for April 8. The presenter told the board the combined future debt service will be “just under $2,000,000” annually after factoring in estimated state aid, and that the actual average interest rate (4.34%) came in lower than the referendum plan projection (5.36%), yielding an estimated $3,100,000 in lower interest costs versus the original projection.
After discussion about credit ratings and market conditions, the board moved and seconded a resolution to award the promissory notes; the board approved it and conducted a roll‑call where members replied ‘Aye’ (transcript records the roll‑call names and responses).
On facilities projects, the board approved a tuck‑pointing program across elementary and middle‑school buildings after staff noted the total of listed projects exceeded $270,000 and recommended contracting with Holton Brothers (a firm used in a prior year). The board also reviewed five lighting proposals, compared warranties (one vendor offered a 10‑year parts warranty versus 5 years from others) and awarded the lighting contract to CES based on staff recommendation emphasizing local manufacturing and warranty terms.
The board acted on several non‑facilities items: the curriculum committee recommended adoption of a K–5 math curriculum (recorded in the transcript as the third edition by a named provider); the personnel committee recommended expanding youth apprenticeship positions (additional positions in IT, interpreters and nurses, increasing the program’s total by four positions in the transcript discussion); and the board approved an updated SRO agreement with the city police that refines assignments and will reallocate some SRO time to provide more support at Lincoln High School under the district’s realignment.
The board also moved to apply the salary adjustments discussed in closed session — a CPI‑based increase referenced at 2.36% for the teacher matrix and a 2.63% figure for the teaching salary matrix in the transcript — effective July 1. (Transcript wording around the exact percentage figures is uneven; the board approved the recommended package as presented.)
Votes on facility contracts and personnel motions were by voice; the promissory note resolution included a roll‑call recorded in the transcript with board members responding ‘Aye.’
