Troy schools to save money on bonds
By Marianne Eisenbrandt Correspondent November 26, 2012 8:44AM
Updated: December 28, 2012 6:12AM
The Troy School Board has adopted a resolution to refund $6.5 million of the district’s bond debt.
Diane Cooper, business manager, said the bonds carry a 5.25 percent interest rate that will be reduced to 2.57 percent.
“The refunding will save taxpayers approximately $805,000 and will not extend the years of outstanding debt service,” Cooper said.
It was noted that the district recently had its bond rating upgraded from Aa3 to Aa2.
In other business, the board approved a tentative tax levy of $38,358,283 based on an equalized assessed valuation (EAV) estimate of $1,123,646,472.
“The tentative levy represents a 2.7 percent increase over the prior year’s extension, which is less than the current 3 percent CPI,” Cooper said.
A levy hearing will be at 6:45 p.m. Dec. 19 at the Don Bacon Administration Center board room. The board will take final action on the levy at the December board meeting.
Ken Surma, director of operations, updated the board on the district’s online registration process. Surma said the administration and secretarial staff has begun the testing and training phase of online registration.
Surma said the goal is to assure that the system is operating properly and is efficient and easy for parents/guardians to understand.
When in place, the online registration process will include registration of all students, completion and submission of free and reduced-price lunch applications, completion and submission of fee waivers and payment of fees.
Surma also reported a safety committee was formed to reduce worker compensation claims and to enhance the safety protocols of staff.