The John Glenn School Board members held an additional appropriation public hearing this week.
Superintendent Christopher Winchell explained that there is a plan to ask the Department of Local Government Finance for an additional appropriation of about $995,000 in acquired bond money and spend that money as an expenditure line item as part of the corporation’s budget.
An audience member asked Winchell what the money would be used for within the corporation.
Winchell replied, “These monies are for immediate needs for increased vehicle expenses, some immediate needs we have with some HVAC and some door units, and some piping that connects all of our HVAC systems, and it’s for some student programming areas for STEM, High Ability, Alt. Ed., and our Lifetime Fitness class.”
He also explained that this bond would not affect the tax rate as previous debt is being paid off.
There were no other public comments.
With that, the board closed the public hearing and approved a resolution that gives the board permission to ask the DLGF to spend the bond money on immediate facility needs.
The board also took action to unanimously approve a final bond resolution that deals with the bond sale. Winchell stated that the bond repayment will not exceed a five-year repayment plan with an interest rate not to exceed five percent. The sale was set for Thursday, October 20.
