Southern Fulton To Borrow $5.925 Million
With their ducks in a row and the necessary forms at hand, the Southern Fulton School Board has given its nod of approval to the bond purchasing agreement and resolution that will allow it to borrow money in support of its capital improvements project.
Last Tuesday evening, Kirwan Elliott, representing underwriter Janney Capital Markets; financial advisor William Carlin Jr., from Public Financial Management; along with Laura B. Kurtz and C. Peter Carlucci from Eckert Seamans Cherin & Mellott LLC, went over the particulars surrounding the 2013 general obligation bond series that will provide the district with $5.925 million.
Carlin pointed out closing is set for the end of October, however, the rates would be set in place as part of the September 17 board meeting. He further noted the district was not in need of bond insurance as it has a “good credit rating.”
Interest on the bonds is payable on a semiannual basis beginning April 15, 2014. Furthermore, the bonds are callable in October 2018, said Elliott, who congratulated the district for its credit rating as well as its strong name in the market.
According to the resolution, the $5.925 million will be used in conjunction with an additional $1.2 million in district funds for a grand total of $7.125 million. The money will be applied to certain projects, but not limited to: “the planning, design, purchase acquisition, construction and equipping of repairs, replacements, renovations, improvements and additions to the HVAC system” at the high school; “the removal of asbestos; installation of new flooring, new lighting and new ceilings; complete renovation of the science labs; installation of a new data networking center; and general upgrades to all other rooms.”
The 2013 capital project, the resolution further states, is expected to be completed by August 1, 2014.
The bond resolution and bond purchasing agreement were approved on a 7-0 roll-call vote made by board members Patrick Bard and Eric Barnhart. Fellow members Timothy Hull and Sam Souders were unable to attend the meeting.
A letter of resignation retroactive to September 3 was accepted as submitted by custodian Deborah Dickinson. In a follow-up motion, the board approved Via Shaw to move from the position of paraprofessional to custodian as per the support professional contract. Shaw’s vacant paraprofessional will in turn be advertised for the 2013-14 school year.
In addition, Megan Mabey- Leach was recalled as a paraprofessional. Mabey-Leach was furloughed several months ago but is now being brought back to the district due to increasing enrollment of “new students with significant needs.”
Levi Grimes was given permission to serve as a student teacher under the direction of math teacher Julie Dickerhoff. Grimes’s student teaching retroactively began August 19.
A cooperative field hockey agreement was penned between the Forbes Road and Southern Fulton school districts. At this time, only one student is slated to travel to northern Fulton County to participate in the field hockey program.
The board agreed to a recommendation of Superintendent Hervey Hann regarding a future arrangement with AC&T, which is proposing to serve as the district’s propane provider. The final agree- ment will be approved next month, but Hann reported the agreement is for up to 50,000 gallons of propane at a rate of $1.599/gallon as well as the setup of necessary tanks.
Building and grounds
The Warfordsburg Presbyterian Church Outreach Fellowship Committee was granted permission to use the old elementary parking lot on October 5 between the hours of 10 a.m. and 5 p.m. for a chili cook-off.
Tuscarora Intermediate Unit #11 will be using a “small area” in the elementary through June 1, 2014, from 8 a.m. to 3:30 p.m. for developmental screenings and meetings for children ages 3 to 5 in the district.
Northern Pipeline, a contractor for Columbia Gas, is slated to use the area below the old elementary building along Great Cove Road. The company will be using the area for staging purposes during the construction of the natural gas pipeline. Hann pointed out PennDOT has used the area in the past with permission from the school.
In other construction-related matters, Hann announced any local companies wishing to submit a bid for the demolition of the old elementary building should contact him for more information. He added all records have been removed and very few items are left in the building.
Hann publicly applauded the efforts of the maintenance staff and building and grounds supervisor John Bain for their preparations in getting the school ready for opening day. Hann also thanked the cafeteria manager for her team’s work for Grandparent’s Day.