[Masthead] Overcast ~ 45°F  
High: 50°F ~ Low: 43°F
Friday, Apr. 29, 2016

Storm Lake School Board lands sub-4% interest for new school

Tuesday, March 18, 2008

The Storm Lake School Board Thursday accepted bids and directed the sale of the $5.6 million school infrastructure sales and services tax (SILO) revenue bonds for the new elementary building which is now in construction.

Rex Ramsey of Piper Jaffray, Des Moines, handling the selling of the bonds, was on hand and all were pleased with the bids that came in.

Three bids came in - one electronically and two by fax.

The lowest bid, for interest that will be charged, came from Wells Fargo of Minneapolis at a 3.92 percent rate. The net interest cost is $1.6 million.

The highest bid offered a 4.31 percent interest rate. Between the highest and lowest bids, the district will save approximately $150,000 in interest costs.

Superintendent Dr. Paul Tedesco said he was quite pleased with the bids that came in. With interest rates rising, he said they were relieved to be under 4 percent.

Last year, the board accepted bids and directed the sale of the $5.5 million general obligation school bond and the $3 million school infrastructure sales and services tax (SILO) revenue; also assisted by Rex Ramsey of Piper Jaffray, Des Moines.

In other business at the March meeting, the board discussed options to look at regarding the school nurses. Currently, there are four nurses that take care of the students in all of the buildings. Nurse Jackie Scheidel will be retiring at the end of the year.

The board will be looking for information to contract nurses from the Buena Vista Regional Medical Center. Currently, one nurse is actually contracted from BVRMC, one is paid hourly and one is on the district's master contract.

Tedesco said the nurses that are not currently contracted from BVRMC will not be replaced. If it decided to contract through BVRMC, the nurses will sign contracts with the hospital.

Tedesco said dealing with one organization would be much more convenient. In the event that a substitute is needed, the hospital could then provide one. Additional information will be brought back to the next board meeting.

The board approved these resignations:

* Jodi Theisen, student council advisor

* Priscilla Robinson, middle school yearbook advisor

* Diane Norris, middle school

* Sharon Sliefert, administrative assistant

The board will offer contracts to:

* Patty Harris, assistant girls' tennis coach ($2,162)

* Brittany Christensen, special education instructional assistant ($8.35 per hour)



Respond to this story

Posting a comment requires free registration: