The John Glenn School Board members considered a preliminary bond resolution in order to sell bonds to gather more funds to pay for some capital projects.
Baker Tilly representatives Todd Samuelson and Lisa Huntington reviewed the financial impact that the General Obligation Bonds would incur on the corporation and overall taxes will stay neutral. There is certain debt falling off the financial calendar for the school year in 2020 so the tax rate will remain unchanged.
The board plans to use up to $1.9 million in the sale of the bonds to undergo some improvements. Superintendent Christopher Winchell said the list of projects will be finalized soon, but parking lot improvements remain at the top of the list as well as LED lighting to realize energy savings, roof replacements, and the purchase and installation of one chiller.
The bond sale is set for Oct. 24 with the closing on Nov. 19. The bonds will go through Jan. 15 of 2029.
The board members unanimously approved the resolution as presented.
