Kasson‑Mantorville board approves $780,000 facility‑maintenance bond sale to fund roof work

The Kasson‑Mantorville School Board voted to authorize the sale of $780,000 in general‑obligation facility‑maintenance bonds to fund roof projects after a presentation by district financial staff. The presenter, identified in the meeting as Jeff, said the district received multiple bids (the lowest around 3 percent) and that the bonds carry five‑year maturities.

According to Jeff, a fair premium on the sale will add roughly $30,000 to the available project funds, and the district expects to have the proceeds when the sale closes; he said the funds will be available April 8. Jeff summarized the debt‑service schedule and said larger early principal payments will accelerate payoff and reduce long‑term cost.

Board members asked staff for clarification on the term, payment schedule and how recent interest‑rate movements affected the sale; Jeff said the district’s relatively short maturities limited the impact of recent market changes. The board then moved, seconded and approved the resolution by voice/roll call.

The board packet presented the sale‑day report and bid details; during the spoken presentation the transcript included both a “$78,000” figure and later repeated the $780,000 issuance amount (the presenter clarified that the district is issuing $780,000). The meeting did not record a detailed, named roll‑call tally in the transcript beyond the chair calling for the vote and the board confirming approval.

The resolution will make funds available to proceed with identified roof projects once the district closes on the bond sale.