The Blytheville School Board received some welcome news Monday night when it learned the district will save $2,179,264.49 over the life of a refunding bond issue.
The board formally approved the issuance of $9,615,000 refunding bonds by unanimous vote. Board members also learned earlier this month the district received $5.1 million in Elementary and Secondary School Emergency Relief (ESSER) II funds through the recent federal stimulus package. Superintendent Bobby Ashley said about $700,000 remains from the ESSER I funds, giving the district around $5.8 million for Covid-19 safety projects.
As for the bond issue, according to Michael Dobbs of Beardsley Finance, the more than $2.1 million in savings is 15.610 percent less than payments would have been on the Aug. 1, 2017 issue.
The 2017 refunding issue had an outstanding principal of $9,390,000, along with $4,570,412 in remaining interest payments, for a total of $13,960,412.
The new refunding issue has a principal of $9,615,000 and interest payments of $2,171,122, for a total of $11,781,148.
At the Feb. 11 closing, the district will receive $4,974 in excess bond proceeds and accrued interest.
Dobbs noted Blytheville School District received the best rate possible, 1.469 percent, from the winning bidder SAMCO Capital Markets. Other rates ranged from 1.53 to 1.75 percent.
In other news, Ashley reported the district has nearly $6 million in ESSER funds for Covid-19 related projects. ESSER funds can be used for such items as personal protective gear, cleaning and sanitizing materials, and similar supplies necessary to maintain school operations during the pandemic.
Ashley said the district will look at the HVAC systems at each campus and make sure they are circulating clean air. HVAC filtering system could be one of the funded projects.
Board member Carlony Wells asked if the high school roof qualifies for ESSER funding, noting it is in bad condition.
Ashley said he did not think it would be eligible, but if it were legal they would certainly consider the project.
“The roof at the high school is problematic for sure,” Ashley said.
However, replacing the roof is not in the budget and all the school can do right now is patch it, he said. Ashley said if the district could build up the building fund with excess money from the bond, for example, it would be able to replace the roof.
He also addressed the second lien bond money, noting the main project from those funds will be the parking lot at the elementary school.
Facilities director Brandon Harper said the district had to hire a civil engineer for the project and is waiting for the specs before bidding it out.
In other news, Ashley reported Chickasaw Arena will host the regional basketball tournament Feb. 24-27. He said for safety reasons, games will be played at 10 a.m., 1 p.m., 4 p.m., and 7 p.m. Ashley said a 14-person tournament committee is organizing the event. He said hosting the tournament gives Blytheville a home-court advantage should it make the tournament. Currently ranked third in Class 4A, the Chicks (18-2) are among the favorites. Ashley added hosting the tournament also allows Blytheville to show off the new state-of-the-art arena.
Responding to Lewis, the superintendent noted capacity per CDC guidelines is 600.
Ashley said he hopes to have a “packed house” when Blytheville plays, which drew criticism from board member Desmond Hammett who has safety concerns with hosting the tournament.
Ashley clarified he meant having the maximum number of fans within CDC safety guidelines.
“We’re being very careful,” Ashley said, noting they will follow Department of Health guidelines.
He anticipates attendance being down for most games because of the pandemic.
The Arkansas Activities Association will sell tickets online for the tournament.
Also, Ashley reported the Covid-19 numbers have dropped in the district, which is now in the orange instead of the red. He said this week’s Covid-19 vaccine clinic for staff has been canceled because of a shortage of the vaccine.
With Friday’s deadline for students to choose virtual or in-person learning for the rest of year looming, Lewis asked if the district is considering another virtual day because “it is overcrowded.” Fridays are virtual days for Blytheville.
Curriculum director Sally Cooke said administrators are in constant contact with the building principals who will let them know of any issues.
Meanwhile, special education director Jean Cole reported her budgets are in the black.
In other news, the school board approved personnel recommendations with a unanimous vote, then extended superintendent Ashley’s contract with a 6-1 decision, with Hammett casting the no vote.
The board also approved the financial report, proposed budget of expenditures with tax levy and 2021/22 educators legal liability policy.
During his report, Ashley offered condolences to the family of the late Letroy Gathen, 69, who worked for the district for many years, becoming the executive for support services.
“Letroy was a good man; he worked for the district for a long time,” Ashley said. “Condolences to the Gathen family; he will definitely be missed.”
In his report, Harper also remembered the late Tommy Bennett, a former school board member and SRO.
Both men were major contributors to the district for many years.