The South Central School Board Wednesday night reviewed financing options for an upcoming addition at the Middle School and future roofing projects.
The board agreed to move forward with the issuing of up to $3-million in alternative revenue bonds, but still has two additional stages to change the amount or drop the idea.
Superintendent Kerry Herdes says the alternative revenue bonds would be paid off by the one-cent sales tax being collecting for schools in Marion and Fayette Counties.
“We can use that and incur zero property tax raises. WE can use the money that’s coming in as an option to bond against it to make sure we have enough money to finish that project. Or we can use some of the money we have banked in the one percent sales tax to help complete the project as well. So we have both options there plus reserves.”
Herdes says right now the Middle School addition that would join the gym to the main building has a cost of $2.9-million, but there are options that could lower that cost. The district has $1.3-million set aside in federal COVID relief money to pay for part of the project scheduled to be completed this summer.
The South Central Board set graduation dates. High School graduation will be on May 12th at 7 pm. Eighth grade graduation will be held on May 9th at 6 pm. No decision has yet been made if the graduations will be held indoors or outdoors.
The board approved Spencer Johannes to serve as volunteer high school baseball coach.
