Tri-Creek board mulls refinance plan

2013-04-11T22:37:00Z 2013-04-11T23:42:04Z Tri-Creek board mulls refinance planMelanie Csepiga Times Correspondent
April 11, 2013 10:37 pm  • 

LOWELL | The Tri-Creek School Corp. top finance official plans to save thousands of dollars for the district and its taxpayers if the state's Department of Local Government Finance agrees it can be done.

Lynn Kwilasz, the district's business and personnel manager, told the School Board on Thursday an opportunity to refinance an existing pension bond could save the district $58,000 in interest.

The board agreed Kwilasz should pursue the refinancing, but were told she would withdraw the request should the pension bond not remain in protected status. She said the status of the funds depends on how the action is interpreted by the state agency.

"The DLGF wins in the interpretation arena," Kwilasz told the board. "It saves us and the taxpayers money. Why mess with success?"

Kwilasz also asked for and received approval from the board to apply for $334,100 — the maximum allowed — from the 2013 Common School Fund.

Any loan received would be for a 5-year term at 1 percent interest.

Jay Blackman, Tri-Creek director of information and technology, said he will be determining specifics on how the loan would be used.

Blackman said he expects it go toward an elementary level one-to-one computer program and associated infrastructure, as well as an online health course for the summer.

The board approved a summer school schedule presented by Lyn Haberlin, the district's director of learning innovations.

To make the summer school program more palatable and save on energy costs, Haberlin said it will be offered four days a week rather than the traditional five. Students will receive more hours than last year, she said.

Reading remediation for first through eighth grades will be held at Three Creeks Elementary School, with classes ranging in size from 12 to 20 students.

Credit recovery courses at the middle and high school levels as well as a Lowell Middle School band course also will be offered.

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