Board sells bonds for room, gym repairs
</element><element id="paragraph-1" type="body"><![CDATA[After months of preparation, Eldorado's school board voted to sell $1,420,000 in bonds, mainly to fix roofs and other health, life-safety projects.
Tim King of Kings Financial Consulting said the presale of the bond happened last Dec. 9 and the board approved the sale Thursday.
Of that amount $856,231 goes to health, life-safety projects -- mostly replacement of sections of roofing at the district's schools and extensive repairs to Westbrook Gym -- and $534,796 goes to paying off old bonds.
The bonds are selling at a rate of 4.65 percent, more than what the district initially expected. King said the rate is about half a percent higher than what he had expected and said the difference came when the federal reserve bought treasuries.
"It was to get lower rates, but it had the opposite effect," King said.
Still, King said the timing was good for a bond sale.
"This is working out really, really well in my opinion," King said.
King said voters should see no tax increase due to the bond sale.
Middle school cheerleaders
Most of the middle school cheerleading squad and family members attended the meeting and received plaques for winning the America's Best competition held recently in Paducah, Ky.
The cheerleaders cheered for all the teams and their cheer routine placed first. Now they have a chance to compete at the national level in San Jose, Calif.
The applause in the room affirmed his question.
The board gave permission for the team to take the out-of-state trip.
The cheerleaders want to hold a dodge ball tournament to raise money and the board approved it, contingent the event's organization. Board members said they and the district's insurance consultant want to see someone in charge ready to eject players for head shots.
The cheerleaders also want to sell ice cream during the Eldorado Holiday Tournament. Superintendent Gary Siebert said he would check with the junior class sponsor since the junior class sells concessions to pay for their senior trip.
The team also wants new uniforms. The board advised the team to return with a cost.
Buses
The board voted to permit Siebert to proceed with entering a lease/purchase agreement for three like-new 2009 school buses for $56,000 each. Siebert said he expects to enter the agreement in May or June with Midwest Transit.
The state should reimburse the district for the majority of the cost.
"We should get 75 to 80 percent of the money back over four year's time," Siebert said.
During the meeting:
<ul>
<li>
The board gave approval to T.J. Zurliene to apply for an E-Rate grant that may pay 80 percent of the cost of a new phone system. Zurliene said the opportunity comes as part of the federal stimulus money and this is the last opportunity to apply. He said the schools' phone system is quickly becoming outdated. If approved the district might pay $15,000. "We can pay $14,000 to $15,000 now or in a few years pay $100,000," Zurliene said.</li>
</ul>
<ul>
<li>
The board approved the resignations of high school golf coach Ronnie Cox, middle school basketball coach Chad Albers and elementary school head cook Lori Murphy.
</li>
<li>
DeNeal receives e-mail at mailto:bdeneal@yourclearwave.com.
</li>
</ul>