CONSTRUCTION ESTIMATING NEWS (update by every month)

Mabel-Canton discusses bonding refunding, budget issues

The Mabel-Canton School Board discussed several items related to the budget for the next school year during its meeting last Tuesday evening.

Preliminary approval was given to the refunding of the 2002-2003 bonds. These bonds were initially secured for the construction of a portion of the school. According to Superintendent Mike Moriarty, Chuck Upcraft had advised that the district could potentially realize as much as $105,000 to $107,000 in taxpayer benefits through the authorization of this sale. The estimated cost would be approximately $30,000, which was included when estimating the savings.

At the time of its sale, the 2003 bond saved the district, and therefore the taxpayers, approximately $250,000.

Approval was given to arrange the new sale for the May 15, 2012, meeting. At that time, board members can approve the sale, with their decision to be based upon the current interest rate on that date.