Marshall Democrat-News: Local News: Sweet Springs superintendent reports difficulty in selling interest-free bonds (09/10/09)

Sweet Springs Superintendent Boyd Jones reported difficulty in selling the interest-free bonds to fund the addition to the high school during the Sweet Springs Board of Education meeting Wednesday, Sept. 9.

Jones said Larry Hart, president and CEO of L.J. Hart & Company, has had difficulty selling the bonds because "they're tied to treasury bonds, which are going down ... so that's not a very attractive option right now."

To deal with this, Hart contacted Standard & Poor, which gave Sweet Springs an AA- rating, which is an "exceptionally good rating for a school our size," said Jones, adding that Hart expects this rating to help with the sale of the interest-free bonds.

Work on digging up and hauling away the sidewalk and pavement where the new addition will be located has already begun, said Jones.

The only immediate effect, he said, would be that "our buses will take a different route around the building."

Sweet Springs High School Principal David Reinke
(Geoff Rands/Democrat-News)

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He said he anticipates the rest of the material to be removed by Thursday, Sept. 10.

Donna Wright, elementary school principal, reported to the board that there are currently 210 children enrolled in kindergarten through sixth grade, and one slot remains in pre-kindergarten.

In August, she said, there was a 97.7-percent attendance rate.

School pictures are scheduled for Tuesday, Sept. 15, and progress reports will go out Friday, Sept. 18, said Wright.

The meeting marked the first one attended by David Reinke in his new role as high school principal, and he reported an attendance rate of 96.8 percent.

Board members assigned themselves to different committees during the meeting.

Troy Schroeder will serve on the Parents As Teachers Committee.

Rodney Heaper will serve on the Education Foundation Committee.

Doug Vogelsmeier will serve on the Career Ladder Committee.

Doug Vogelsmeier and Robert Fuehring will serve on the Insurance Committee.

Fuehring and Brian Vogelsmeier will serve on the Salary Committee.

The board approved paying $6,177 in tuition for out-of-district students for 2009-2010.

The next board meeting is scheduled for 7 p.m. Thursday, Oct. 8, in the elementary school conference room.

Contact Geoff Rands at marshallreporter@socket.net

Do you know how many years it would take to build a school if building could only take place when school IS NOT in session???

-- Posted by Dismayed on Thu, Sep 10, 2009, at 12:55 PM

Should construction work on the school be going on while school is in session?? Alot of noise and distractions..

-- Posted by Gumby on Thu, Sep 10, 2009, at 11:41 AM

I assume this is a mistake. Should this read "Tax Free Bonds" instead of "Interest Free Bonds"?

-- Posted by Seagarr on Thu, Sep 10, 2009, at 11:18 AM

Response by Geoff Rands/Staff writer:

"Interest-free bonds" is correct, according to Barb Clevenger, bookkeeper for the district, who was in attendance at the meeting.