Board OKs $9.9 million loan for building new Springfield school
CONNELLSVILLE – The Connellsville Area School Board has secured partial financing for the construction of a new elementary school. Members voted last week to approve the $9.9 million general-obligation note that will be used to fund the building of Springfield Elementary School and other capital improvement projects.
Scott Shearer, a representative of Public Financial Management, the district’s financial consultant, said the obligation note was purchased by a small Philadelphia-area investment banking company during a 15-minute Internet auction conducted Wednesday before the school board meeting.
Lisa Chiesa of Thorpe, Reed and Armstrong, the district’s bond counsel, said closing on the loan will take place in May and the receipts turned over to the district for its use.
Two weeks ago, the board awarded $8.3 million in contracts to construction-related firms for the new building and $2.1 million in contracts for the installation of air-conditioning systems at three other elementary schools.
According to William Harper, district business manager, the district will address the $500,000 shortfall in next year’s district spending plan, which could include funds for renovations at other schools. He has declined to speculate if the additional debt would translate into a tax increase for residents.
The board plans to begin budget discussions at an April 22 special meeting.
In a related issue, the board members approved a $183,890 contract with Commercial Appliance Contracts Inc. of Grove City to supply the new school with cafeteria equipment.
The panel, however, declined to approve an agreement with the Indian Creek Valley Water Authority to provide water service to the new school.
In other business, the board approved the purchase of three digital video cameras for the senior high school, at a cost of $4,500 each. Charles Matthews, the district’s chief of security, said this is the first of several upgrades planned for the high school and other buildings.
A March intrusion at the high school by a former student prompted district officials to revamp its security measures.
The new equipment is to be used in conjunction with surveillance cameras now stationed at the high school.
Matthews said the newer system will lessen the amount of time officials spend reviewing tapes and allow a quicker response time by authorities.
Since the intrusion, additional security personnel are on duty during after-school activities.
The board also approved a contract with Guardian Protection Services of Pittsburgh to upgrade the security system at the North Fayette Vocational-Technical School, at a cost of $3,973.