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Board approves refinancing, insurance renewal and Chromebook loan application; other routine items cleared
Summary
The board approved refinancing of 2018 bonds, renewed property and casualty insurance (a 4.5% overall rate increase was noted), approved a 1% state loan application for Chromebook refresh, extended a substitute-staffing contract addendum, and approved personnel appointments and a $1,000 donation.
At its regular meeting, the Taylor Community School Corp board approved a package of operational and financial items, including refinancing outstanding bonds, an insurance renewal that raises district rates modestly, a state loan application to refresh student Chromebooks and a contract addendum for substitute-staffing services.
On debt, the board approved a resolution to issue and sell ad valorem property-tax first-mortgage refunding bonds to refinance 2018 debt. Board discussion noted the 2018 issuance carried roughly a 5% interest rate and that current refinancing hopes were “around four” percent, though final rates will depend on market conditions.
Renee, who presented the insurance renewal, said the district would keep property and liability coverage with Astra (also referenced as Great American) while moving its workers’ compensation and cyber liability to other carriers. “The rate is at the bottom. It’s going up 4.5%,” she said, and the board approved the renewal.
The board also approved applying for the state’s spring common school loan at a 1% interest rate to fund a Chromebook refresh targeted to middle-school grades; members emphasized the loans must be used for student devices and education and that students may not be charged for the equipment. The board extended its agreement with ESS Midwest Incorporated to retain the substitute-staffing platform at the same rates for the coming year.
Other routine motions approved included appointing Melissa Miller (described by members as a former bus driver and guidance secretary who is training as registrar), a motion to create a small yellow bus driver position and appoint Jessica Russell to route No. 2, and acceptance of a $1,000 donation from a local church to the athletics department.
All listed operational motions passed by voice votes during the meeting; several were recorded as unanimous 5–0 approvals in the transcript.
