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Mitchell Community Schools Board Vote On Bond Issues
Updated December 9, 2014 11:55 AM | Filed under: Education
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(MITCHELL) - The Mitchell Community Schools board met Monday night and dealt with preliminary steps for the refunding of 2005 B Series bonds.

The board approved the preliminary steps on two bond issues.

Attorney Greg Pittman informed the board that a hearing is scheduled for Jan. 12 in regard to the refunding. Superintendent Steve Phillips reviewed a timetable for the refunding process.

The bonds were originally issued in 2005 for remodeling projects at the high school, junior high school and Burris Elementary School.

Officials says by refunding, the corporation can reduce costs by moving from a higher interest rate to a lower interest rate. Those savings can then be used for brick and mortar improvements and only those improvements.

Officials will make a list of possible projects and presented that list to the board at a later date.

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