NORTH LEWISBURG – Triad Local Schools’ taxpayers will see their property taxes drop when the district refinances some of its building bonds.
The school board approved a resolution authorizing the issuance of bonds for the purpose of refunding a portion at its Nov. 19 meeting. The bond amount would not exceed $1.48 million and is for bonds issued in January 2006.
The technical term is “refunding,” but it works like refinancing a mortgage or loan, Treasurer Connie Cohn said. The district and taxpayers save money because the interest rate on the bonds would be lower. The term of the bonds would be the same – through 2022 – but the amount paid for each payment would be less. So voters should see smaller property tax bills.
Voters approved a bond levy for new buildings in 1999, and the bonds were issued in 2000. The district refunded bonds in 2006 to take advantage of lower interest rates. The district is doing it again because bond counsel said it could see another reduction in cost based on interest rates.
The school board also heard about last spring’s testing scores. Superintendent Chris Piper and Curriculum Supervisor Deb Hayslip told the board that scores are still trickling in, and final numbers may not be known until January or February. Further, it will likely be impossible to compare results to previous years because of new standards and new tests. And this school year’s testing in the spring will be with a different set of tests, since state legislators decided to end its participation with the Partnership for Assessment Readiness for College and Careers (PARCC), who provided last year’s tests.
In other action, the board:
•Accepted the resignation of Marian Baumgardner as custodian, effective Nov. 30.
•Approved an initial partial-year contract for two-hour cafeteria worker Mindy Smith, beginning Oct. 26.
•Approved Football Assistant Coach Richard Oakes, Girls 7th Grade Basketball Coach Nicole Simonelli, Wrestling Head Coach Tyler Graff, and Middle School Wrestling Coach Tim Deady, for the 2015-16 school year.
•Approved Volunteer Bowling Coaches Shari Dixon and Addie Dixon for the 2015-16 school year.
Casey S. Elliott may be reached at 937-652-1331 ext. 1772 or on Twitter @UDCElliott.