howeenterprise.com
Monday, June 25, 2018
School bond
Page #5 Continued from page 1
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Derek Honea of RBC Capital Markets gave a report to the school board outlining the bond information. bond would be $0.454 but the rate was held at $0.379 for the first ten years and then lowering to $0.3337 and $0.338 beyond.
Girl Scouts geocache and learn robotics
The Brownies went geocaching last week. They had to put coordinates into a phone and follow it to four hidden sites to get their kits together for a project to make
The Brownies went geocaching last week. They had to put coordinates into a phone and follow it to four hidden sites to get their kits together for a project to make
from an A+ to an A--. S&P's rating reflects stable operations and a maintenance of very strong reserves. The only negative feedback was moderate to "We've handicapped your appraisal moderately high overall net debt value at 96 percent so we think it burden which is a result of carrying could be even better than this," bonds. The district was also said Honea to the board. "We came afforded the use of the Permanent in seven pennies better than what School Fund Guarantee and its we went out to voters so that's AAA credit rating. always our goal." Superintendent Kevin Wilson says The final 2018 debt service was that the opening of the school is $1,508,345 lower than what was still scheduled to be opened in presented to the board in May of August of 2019. The architects' 2018 and $2,540,093 lower than drawings are 75 percent complete what was presented to voters prior and the district will begin soliciting to the 2017 bond election. bids in July and August for construction. The first sign of dirt "We always try to come under being moved should happen in late budget and we were happy to be August. able to do that for you," said Honea. Howe ISD is working on easement acquisition for water and sewer. The All-In True Interest Cost is The district and the City of Howe 3.71 percent and the principal are compiling a study for fire amount of the bonds is suppression standards and the size $16,495,000 with an Original Issue of the water line needed. The Premium of $733,628.70 for a district hired a fire engineer that Total Sources amount of can do a study and determine the $17,228,628.70. The maturity date actual needs and investigate the is scheduled for 2045 which is a possibility of having their own on25-year bond which is what was site tank and pump. given to voters. The optional call date of seven years allows the "The architect is breaking up the district to refinance or redeem the building to put different firewalls bonds for cash. and create different sections which will lower the amount of water to Bonds are typically purchased by do that," said Wilson. "If the hedge funds and insurance storage tank is a half a million companies. dollars, it may not make sense. But if it's $250,000 it may." On May 31, the district met with S&P Global Ratings by Wilson said the worst case scenario teleconference. That discussion would have the district spending upgraded the district's credit rating $800,000 on a water line.
Howe ISD Superintendent signs the paperwork for the bond.
