Huge cost savings of $660,000 by refinancing middle school bonds
Sergeant Andy McClannahan (black shirt-center) of the United States Army Reserves, leads Humboldt High School football captains and two officials onto the field for the opening coin flip prior to the Humboldt/Storm Lake game in Humboldt on Sept. 13. McClannahan, an honorary captain and HHS graduate, is the son of the late Dan McClannahan, who coached the Wildcats 20 seasons. McClannahan resides in Janesville, WI. Independent photo by Phil Monson.
By Phil Monson
After a public hearing with no objectors, the Humboldt school board held a public hearing Monday night before passing a resolution to issue new bonds to re-finance payment of the new middle school.
In the board’s regular monthly meeting Monday night, Sept. 16, the board passed a resolution to issue bonds of up to $5 million to refinance tax revenue bonds to continue toward payment of the middle school, which opened in 2012.
With interest rates at historic lows, the district is expected to save at least $660,000 over the remaining 10 years of the bond, which is being fully paid through sales tax revenue. With action by the board, the bonding process will take place in three to four months.
Tamela Johnson, curriculum director, gave a presentation on the upcoming school year for the Teacher Leadership Compensation (TLC) consortium of Humboldt and Twin Rivers.
Johnson noted Humboldt and Twin Rivers were one of the first schools in the state to receive funding from the Iowa Legislature when the program was approved in 2013. A total of $497,185 will be paid this year to staff in both schools serving the district and co-teachers in various mentor and leadership positions.
“Some of the Iowa Department of Education goals for the TLC program include attracting able and promising new teachers by offering competitive starting salaries and offering short-term and long-term professional development and leadership opportunities,” Johnson said.
“Another goal of the program is to retain effective teachers by providing enhanced career opportunities, along with promoting collaboration by developing and supporting opportunities for teachers in schools and school districts statewide to learn from each other,” Johnson said.
Read more education news and see coverage of school activities in this week's Humboldt Independent. Get your copy today. It's as easy as clicking the "subscribe" link at the top of this page.
