The Argos Community School Board members reviewed resolutions for the General Obligation Bond process this week.
Superintendent Ned Speicher said the General Obligation Bonds will be used for the purchase of three new school buses.
Speicher said, “We have some General Obligation Bond ability right now and can do it tax neutral where if we did it through the Operations Fund it wouldn’t be tax neutral. With reduction in Debt Service payments, we can do this without any increase to anybody’s taxes. That’s why the board went this direction.”
Speicher noted the bond is $500,000 for the purchase of 78-passenger buses.
“We bought two new Cummins buses for $254,446 and we bought another new Cummins bus for $133,384,” commented Speicher.
Speicher added that there will be some bond money left to purchase lease buses later this summer.
The resolutions were approved by the board.
