Board Issues Construction Bonds

FARMINGTON — Farmington teachers and other full-time certified staff will receive a $500 raise and a $500 bonus for the 2015-16 school year.

Farmington School Board approved the increases at its Oct. 19 meeting.

The Board voted to add $500 to the certified salary schedule for the 2015-16 year and add a 1.26-percent raise for classified employees. The total cost, including benefits, will be about $115,000 to add the raises

to the certified and classified salary schedules, according to Mandy Uher, district treasurer.

Board members also approved a $ 500 bonus across-the-board for certified staff and a 1.26-percent bonus for classified employees. Giving a rough estimate, Uher said the bonuses will cost the district around $105,000.

The raises and bonuses were already included in the 2015-16 school budget, Uher said.

With the salary increase, the base salary for a new teacher with a bachelor’s degree is $40,200.

Bryan Law, superintendent of schools, said one of the district’s goals has been to increase the base salary for a beginning teacher to more than $40,000.

“Our teachers work very hard,” Law told School Board members. “We have tremendous teachers and being able to offer a competitive salary to keep them here is a wonderful thing.”

Jeff Oxford, board president, noted that 10 to 11 years ago, Farmington was losing teachers to larger school districts that paid higher salaries.

“We invested time in them and they would move on. We’ve closed a lot of gaps in eight years,” Oxford said. “I’m very proud of what we’ve done facility-wise and with our base salary.”

Most of the discussion at Farmington School Board meetings the last two months has been about the sale of school property next to Williams Elementary School on Broyles Avenue.

The School Board has conducted other business as well.

At its Sept. 28 meeting, members voted to retain Jeff Oxford as board president. Travis Warren was voted to remain as vice president and Amy Hill was elected board secretary.

School Board members, at the same meeting, approved a resolution to accept a bid from Ross, Sinclaire & Associates LLC, with an interest rate of 2.9 percent, to issue $4.6 million in new bonds for the construction of Phase 2 of the new high school.

Phase 1 was Cardinal Arena and the Performing Arts Center. Phase 2 will be classrooms, library, lunchroom and other space associated with academics. Phase 3 will be a football stadium, track and amenities.

Farmington received four qualified bids from investment firms in connection with the bond issue. Bids ranged from the low of 2.9 percent to a high rate of 3 percent.

After an underwriter’s discount and financial advisor’s fee, $4.5 million will be available for construction.

Kevin Faught with Stephens Investments in Fayetteville, said Farmington’s annual debt payment for the new bond issue will average $285,000. The bond issue goes out to 2036.

Phase 2 will cost $ 12.8 million to $ 14 million, according to a conceptual cost estimate prepared by Wooldridge Construction Services of Springdale. The school district proposes to pay for the new high school with proceeds from the bond issue, savings in its building fund and money from the state through the state partnership program which assists with academic construction projects.

“Our teachers work very hard. We have tremendous teachers and being able to offer a competitive salary to keep them here is a wonderful thing.”

Bryan Law

Superintendent