The school district’s final bond package was sold Monday, Dec. 17, at a lower interest rate than expected, which will mean savings for the district in the long term.
The bond was sold at a 2.8258 percent interest rate, the lowest bid received. The highest bid came in at 3.0093 percent.
Overall, low interest rates from each of the three bond sales saved the district nearly $5 million from projected rates.
The bonds were sold in three separate packages. The Monday night sale was for $8.175 million, the final sale.
Projected interest rates for the total $33 million in bonds totaled around $25 million over the life of the bonds. Actual rates after completing all three sales showed that the final amount will be around $20.7 million, a reduction of about $4.3 million.
The board complimented its members on saving the district millions of dollars. They acknowledged board member Brandon Andersen, who led the effort to sell the $33 million in three separate sales, which was the main reason for the savings.
Personnel changes made Monday included:
• The board accepted the resignations of Dawn Bergerson, adult basic education instructor, and Carol Bundgaard, library aide.
• The board hired long-term substitutes Andrew Otterstad, Kelly Jackson and Melissa Flemmer to fill in for teachers on child-care leave.
• The board also hired Megan Oelke, paraprofessional; Kayleen Kline, custodian; and Chad Rudbeck, middle level girls’ basketball coach.
• JV dance coaching positions were modified, with Allisa Spieker hired at 60 percent and Jennifer Dingman hired at 40 percent.
• Lynda Johnson, previous custodian, was reclassified as assistant engineer.
In other business Monday, the board:
• Said farewell to board member Mark Liedl, who chose not to run for re-election as his term ended. Dec. 17 was his final meeting. The board thanked him for his service and cited his input and expression of his opinion as benefitting the district over the last six years.
• Observed a moment of silence for the victims of Sandy Hook Elementary School in Connecticut.
• Approved the sale of automobile lifts that came with the purchase of the bus garage. • Approved a joint powers agreement and bylaws with the Paul Bunyan Education Cooperative.