Valpo School Board OKs bond issue

2013-10-01T19:06:00Z 2013-10-01T20:51:29Z Valpo School Board OKs bond issueSusan Emery Times Correspondent nwitimes.com
October 01, 2013 7:06 pm  • 

VALPARAISO | Valparaiso Community Schools agreed Tuesday to move forward with a short-term bond issue for maintenance projects at every building in the district.

Outlining the plans at a public hearing, Superintendent Michael Berta assured residents there would be no affect on the tax rate.

“This will not cause any tax increase for anyone,” he said.

With a total estimated cost of $12 million, the projects will take place at the eight elementary schools, two middle schools, the high school, career center, administration building and service center.

Environmental improvements include heating, ventilation and air-conditioning work and electrical upgrades.

Safety and security measures involve upgrades to public address systems, phones, fire alarm systems and playground materials, as well as alterations to school entrances.

There also will be repairs to the roofs and replacement of asphalt in parking lots, Berta said.

While no one building will receive more than $2 million, projects at five of the facilities are estimated to cost $1 million or more, he said.

Berta said the schools will be paying off some of the bonds that were taken out years ago and the new bonds replace the old loans.

The bonds are expected to paid off four years, he said.

After the board approved resolutions regarding the bonds and the financing approach, Board Attorney David Hollenbeck said the approval triggered a required second public hearing. It is scheduled for 6 p.m. Nov. 5 at the administration building on Campbell Street.

The district hopes to have the bond money in hand by Nov. 26.

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