Linn‑Mar board approves $28.125M notes, Oakidge band‑room bid and multiple fiscal items

The Linn‑Mar Community School District Board of Directors approved multiple fiscal and facilities actions at its June meeting, including final issuance documentation for $28,125,000 in general obligation school capital loan notes, approval of a contractor for the Oakidge band room project, depository bank designations, and several personnel compensation actions.

On documentation tied to debt issuance, the board approved a resolution and related documents placing on file and authorizing the issuance of $28,125,000 general obligation school capital loan notes, series 2026, including a resolution appointing UNMB Bank NA of West Des Moines as paying/transfer/note registrar agent. The items were adopted by roll‑call votes recorded in the transcript as yes from each director present.

The board approved Foreman Construction as the lowest responsive, responsible bidder for the Oakidge band room project with a base bid of $1,689,900; the motion carried. The board also approved the form of a tax‑exemption certificate and a continuing‑disclosure certificate related to the notes and authorized the execution of a loan agreement for the series 2026 issuance.

John (identified in the meeting as the district representative invited to speak on depository designations) explained that recent legislative changes will change school‑aid (SSA) payment timing to quarterly, requiring the district to hold larger sums between payrolls and therefore increasing deposits held in district depositories. The board designated the following depositories for fiscal year 2026‑27 and set authorized limits: Farmer State Bank ($40,000,000), Hills Bank ($30,000,000), Central State Bank ($5,000,000), and Iowa School Joint Investment Trust ($50,000,000).

The board also approved the amended FY2026 certified budget and open‑enrollment requests, and agreed to compensation increases: a 3.02% total package increase for the Linn‑Mar Secretarial and Educational Assistant Association and a 3% total package increase for administrators, managers, exempt and non‑exempt staff. One abstention on a staff compensation item was recorded in the transcript.

During the superintendent’s report and other discussions, the board reviewed progress on the 10‑year facilities plan, the OPN assessment, and the indoor activity center project; staff indicated the steering committee will soon seek more direction from the board. A director cautioned that tabling the performance‑hall hallway until the 10‑year plan could mean existing bids (about $700,000 was referenced) may not hold if the board delays a decision.

Roll‑call votes on the note issuance and related resolutions were recorded by name in the meeting transcript; specific tallies for some other motions were not recorded beyond verbal confirmations that motions carried.

Additional items approved included the consent agenda and retiree recognitions. The meeting adjourned at 5:44 p.m.