LH directors approve bond refinancing
School directors in the Laurel Highlands School District on Monday approved a bond refinancing that is expected to save the district hundreds of thousands of dollars.
According to solicitor Gary Frankhouser, refinancing of bonds from 2000 totaling an estimated $10 million has the potential to save the district a minimum of $300,000 while not adding any years to the current bond issue.
With the board’s approval, Janey Montgomery Scott Capital Markets can begin seeking the best refinancing rates for the bonds
Director Ira Chrise asked if the federal government shutdown and the debt ceiling discussion would negatively impact stock markets, driving up the interest rate.
“It’s unlikely the market will overreact,” said Sean Garin, bond counsel, Dunsmore and Stohl in Pittsburgh.
In other business, the board was addressed by Joe Pergar, a district physical education teacher, who asked the directors to consider replacing the auxiliary gym at the high school, which is being lost in the renovation.
“I can speak to the need for such a facility because of my experience as a teacher and coach in the district for the last six years. An auxiliary gym is needed for any one of the 16 varsity sports teams, JROTC and the juggling of physical education classes just to name a few,” said Purgar. The former auxiliary gym is being replaced by a new pool in the renovation of the district’s high school.Pergar said without having an auxiliary gym for sports practice and conditioning, it’s putting the district at a disadvantage athletically. He indicated he spoke with at least 18 officials at area high schools and discovered on average, the schools have at least five auxiliary gymnasiums available.
“These extra facilities that our competitors possess are giving them an edge,” he said.
Director Beverly Beal questioned the cost of the kind of facility Purgar was requesting. Craig McKee, supervisor of buildings and grounds, said it would be estimated to cost $2 million. McKee said basic sketches have been done for an auxiliary gym, which could potentially be located near the current weight room. He said the facility would be basic with no locker room.
Infrastructure, including electricity, water and sewage, is already in place.
“A lot of preliminary work was done in hopes of taking advantage of a future situation,” McKee said.
The directors agreed it could be discussed as the current project progresses.
The board approved the hiring of Scott Berry, head varsity baseball coach; Carrie McGrath, personal care licensed practical nurse; Pamela Tate, cafeteria personnel; Barbara Tibbe, secretary; Amanda Guthrie, Vicki McGarvey and Paula Nova, paraprofessionals; Hechavarria Christopher, security; and added Steven Huncheck, Tin Wadsworth, Kathleen Williams to the professional substitute list.
The board also approved:
n Attendance for Jessica Scott at PA Improving School Conference for a cost of $610 paid for by Title I funds and attendance of Randy Miller at the SAS Aligned System Training for a cost of $500 paid for by Title I funds.
n Permission for Mustang Marching Band spring band trip to Nashville at no cost to the district
n Setting special meeting at 5 p.m. on Oct. 24 for the purpose of hiring four teachers; the meeting place will be determined at a later time.