Farwell to Enjoy Big Interest Savings in Bond Sale

February 10, 2020

By Pat Maurer

Giving a report on the bond sales for the district improvement, Superintendent Steven Scoville gave the board some outstanding news at the Board of Education meeting Monday evening.

He said, “We did well on the bond sales with six bidders. The interest rate last July was 4 percent. Now the rate is 2.12 percent. What that means for us is that the three-mill rate was to be for seven years. Now hopefully it will only be three mills for three years. We saved a lot of interest.”

The board approved the General Obligation Bonds for the project. The funds will be invested with 5th 3rd Bank. The vote was 5-0 with Shari Buccilli and Joe Maxey absent.

Action items at the meeting also included approval of the revision of the March 2nd meeting from Lake to the Media Center in Farwell with the meeting in Lake rescheduled for May 4th and a change in the September 7th meeting (which falls on Labor Day) to the following week on September 14th.

The board also approved hiring kitchen employees Caityln Jansen and Trisha Glowniak and approved an extension of a leave of absence for a bus driver.

Budget amendments, four bus leases and an overnight trip for the bowling team to attend regionals were also approved by the board, with Coach John Gross abstaining from the bowling trip vote.

Discussion items at the meeting included adding personnel to the teacher contract, a public comment policy change and District and Board Policy, all items on the next month’s agenda.

In his report to the board Superintendent Scoville noted that the fiber optic line is almost done and could be complete with in the week.

Regarding a possible conflict of interest with board members also serving as coaches, Scoville reported that board members can be unpaid volunteers as long as they abstain from voting on extracurricular activities for the team or activity they are volunteering for. Joe Maxey, Shari Buccilli and John Gross are all volunteer coaching staff.

Scoville also noted that the Preschool and daycare programs are doing well with 13 enrolled in preschool, 13 in day care and 17 enrolled in after school day care. “The estimated revenue for the program is $40,000 and the net profit is $7,500,” Scoville said.

The Superintendent also reported that the Farwell Support Staff (formerly the Teamsters) will be the first group the board negotiates with.

High School Students of the month were also recognized Monday evening. They are Austin Harris (8th); Madison Dysinger (9th); Nick Brennan (10th); Nick Gray (11th); Barbie Judd (12th); and Jasmine Elsea in Timberland.

The board also approved monthly operational invoices totaling $598,097.05 and approved donations including $300 for the Robotic Club from Wauseon Machine and Mfg. and $2,500 for football from the Farwell Sports Boosters.

Share This Post

Error, no group ID set! Check your syntax!

Leave a Reply

Your email address will not be published. Required fields are marked *