Bremen Public Schools will be undergoing some renovations over the next few years, now that school board members have officially adopted a resolution to have a bond of approximately $4 million issued to pay for the proposed work.
According to School Board President Brian Teall, a 1028 Hearing was held over the bond resolution during their Monday night meeting and it was adopted by a vote of 4-1.
Dr. White said with the board members’ approval, he will now be coordinating with the building corporation about bond issuance procedures over the next few weeks. The superintendent explained that schools are not legally permitted to directly borrow money so they utilize a building corporation as a pass-through entity.
He said the group of individuals who make up the building corporation, otherwise known as a holding corporation, borrow the money on the school’s behalf. The corporation takes out a lien on the building while the renovations are being made and then leases it back to the school.
Teall said the bonds are anticipated to be issued at the end of April or in early May. Once the money is in hand, the bidding process can begin and contractors can be sought out for the proposed work.
Some of the projects that have been mentioned include making some security upgrades to the entry ways, roof repairs, renovating some locker rooms and restrooms, updating the lighting on the football field, doing some temperature control work and replacing the 30-year-old cooling tower at the middle school.
