The John Glenn School Board members considered a resolution Tuesday that would allow the school board to seek General Obligation Bonds in order to reimburse some site and technology improvements planned this summer.
The bonds would not exceed $1.9 million.
The resolution that creates the intent to seek these bonds was approved with a unanimous vote on Tuesday night.
John Glenn School Board President Dennis Holland noted that the anticipated projects fall in the corporation’s five-year plan. They include replacing the chiller at Walkerton Elementary School, replacing the Urey Middle School gym floor and windows at North Liberty Elementary School, also the repair of roofing issues, and repaving the parking lots.
Business Manager Tom Bendy says Baker Tilly financial officials are still researching numbers to keep it at a tax neutral rate. The bonding wouldn’t actually occur until October or November. Board Member Curt Pletcher noted that officials will have the net assessed value information needed for Debt Service calculations at that time.
Bendy explained that it is the goal to not increase taxes. It will remain tax neutral as another GEO Bond is paid off at the end of December and will not change the tax rate.
