Low interest rates garnered on $9.7 million

Lower than anticipated interest rates were good news for school officials who were presented with a continuing disclosure dissemination agreement from First Security, Beardsley, for second-lien bonds. The School Board, with one dissenting vote, approved the resolution to authorize the issuance and delivery of the $9,745,000 in construction bonds to the district.

“The bids received … we were really pleased,” Dan Lovelady, vice president of Beardsley, said. Explaining that Ross, Sinclaire and Associates submitted the lowest bid at 2.625%, Lovelady said: “When we first signed up we were talking about a 3.3% interest rate.” He said the lower interest rate should save the district about $45,000 per year.

Lovelady also pointed out that at least 5% of the proceeds should be expended within six months of the closing date and that “The District reasonably expects that all construction proceeds will be spent within three years from closing date.”

School Board member Sandy Button made the motion to approve the resolution with board member Jenny Wood casting the second. Board member Ryan Heckman voted against the resolution. Board member Mindy Cawthon was not present.

“We have solidarity, but don’t always have to be unanimous,” Heckman said, adding that not all “no” votes are worth a story. He explained that although he was not at the meeting during which the board had voted to approve the second-lien bonds, his understanding was that they agreed to “spend up to $9.75 million.” He said that one of the qualifiers of the bond in the contract as that all of the money had to be spent on the project. “It changed from an initial ‘up to’ to an ‘all,” Heckman said. “I’m trying to be the best steward I can for the public.”

In other business, the board: • Accepted the resignation of Kelsey Johnson, teacher; appoint

Jessie Hester as principal for the new Middle School for the 20202021 school year;

• Approved board-to-board transfers out to Rogers of Nataly Oaks and Alanny Oaks; in from Rogers of Matthew Guyll, Johnathan Sutton, Isaiah Sutton, Addison Uranga and Laila Brown; and in from Bentonville Taylor McCaslin, Joshua McCaslin, Harmony McCaslin, Cadence Brown and Joshua Brown: and

• Approved out of state trips for FFA barnwarming at Branded K, Pineville, Mo., and annual Bass Pro Shop trip; and Winter Guard competitions at Ozark High School, Kickapoo High School and Nixa High School.