Bellwood-Antis board OKs bond measure
BELLWOOD — Bellwood-Antis School Board members Tuesday approved a resolution authorizing the issuance of general obligation bonds.
Board members agreed not to exceed $2 million in new money for projects, said Superintendent Thomas McInroy.
“This resolution gives the board the opportunity to refinance two existing bonds (from 2012) and the opportunity to borrow up to $2 million for projects,” said managing director Audrey Bear of Piper Jaffray and Co. of Camp Hill, a bond service company. “Interest rates will be monitored to determine the feasibility of the refinancing.”
If the refinancing moves forward, the district would save more than $150,000 over the life of the bonds, McInroy said.
The funds could be used to help pay for a new heating, ventilating and air conditioning system at the middle and high schools, which is at the end of its service life, and or the funds could be used for other capital projects, McInroy said.
“The board is committed to maintaining its fiscal responsibility by only borrowing the needed funds. The goal is to have the district debt free by 2033 while maintaining the physical and educational viability of the district. It is important to note that once the HVAC program is completed, the district will have spent less than $7 million in total renovations and have an updated facility that will last for decades to come. This is far cheaper than building new schools,” McInroy said.
Mirror Staff Writer Walt Frank is at 946-7467.