South Washington County School District is proposing mechanical system upgrades and building additions to accommodate secured entrances at the Bailey, Middleton and Grey Cloud Elementary Schools. The projects will be scheduled for completion in FY 2015 and FY 2016. The total project cost, including bond issuance costs, at the three elementary schools is $19,968,193.
The district is proposing to finance the $17,718,193 in projects and bond issuance costs eligible under M.S. § 123B.59, Subd.l (a), Alternative Facilities Levy and Bonding, with a pay-as-you-go alternative facilities levy of $2,878,193 and the balance of $14,840,000 with alternative facilities bond proceeds. This Review and Comment provides authority for the issuance of $14,840,000 in Alternative Facility bonds under Minn. Stat.§123B.59. The total amount of district indebtedness as of June 30, 2013 is $276,405.060.00.
The $2,250,000 in building additions for secured entry at Bailey, Middleton and Grey Cloud Elementary Schools are not eligible for alternative facilities funding. These projects will be paid for by funds specifically earmarked from the November 2013 operating referendum.
The components of the project funded under the alternative facility program are subject to program approval/requirements. School board approval is required to proceed with these projects. The school board believes that the construction projects are in the best interest of the district.
The district shall observe the requirement in M.S. § 123B.59 Subd. 8 to establish and maintain a separate account under the UFARS for this program; the district must meet requirement in M.S. § 123B.59 Subd. 3 to publish notice of intended projects.
REVIEW AND COMMENT
Based upon the department\'s analysis ofthe school district\'s required documentation and other pertinent information from sources of the Minnesota Department of Education, the Commissioner of Education provides a positive review and comment.
ADDITIONAL INFORMATION IS AVAILABLE
Persons desiring additional information regarding this proposal should contact the school district superintendent\'s office.
Dr. Brenda Cassellius
February 4, 2014