1 / 12

April, 2011 No Tax Increase Bond Projects Proposed Timeline

April, 2011 No Tax Increase Bond Projects Proposed Timeline. Board of Education Meeting April 28, 2011. Project List. Remove portable units at CHE, LCE, RNE, SEE and PMS Construct 10th Elementary School Add classroom space at Park Hill High School Add classroom space at Park Hill South

marnin
Download Presentation

April, 2011 No Tax Increase Bond Projects Proposed Timeline

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. April, 2011 No Tax IncreaseBond Projects Proposed Timeline Board of Education Meeting April 28, 2011

  2. Project List • Remove portable units at CHE, LCE, RNE, SEE and PMS • Construct 10th Elementary School • Add classroom space at Park Hill High School • Add classroom space at Park Hill South • Construct additional classroom space at Congress Middle School • Replace district technology infrastructure • Install security cameras on the exterior of each district facility • Repair and/or replace roofs at schools district wide • Renovate functional and autistic classroom spaces at selected schools • Repair outdoor surfaces (i.e. asphalt, concrete) • Renovate restroom facilities district wide • Replace fire alarm systems at Plaza and Congress Middle Schools • Upgrade electrical service district wide • Equip all classrooms with updated projectors, doc cameras & interactive boards • Add parking stalls and a traffic loop at Plaza Middle School • Reconfigure front entries at ELE, UCE, LMS • The district needs to purchase land for future schools and/or facilities

  3. Scheduling Factors • Design • With exception of 10th Elementary School, no design work has taken place • Short Construction Windows • To minimize disruption to classrooms, the majority of construction and remodeling work will be planned during summers • Financials • In order to maintain no-tax-increase, not all bonds will be sold at one time. • Currently anticipating 3 or more bond sales to meet proposed draw schedule (June, 2011; March, 2012; and Spring, 2013)

  4. Proposed Schedules

  5. Proposed Schedules

  6. Proposed Schedules

  7. Plan of Finance • Recommendation • Sale of Bonds • $10,000,000 in June, 2011 • $10,000,000 in March, 2012 • Remaining in Spring/Summer 2013

  8. Plan of Finance First Issue Proposed Timetable • Prior to May 12, 2011 • Information to Board of Education • List of Underwriting Fees of Bond Issues in Peer Districts (5 year history) • MOHEFA Direct Deposit Program Fee Schedule • National Competitive Sale Rankings for Underwriters • Detailed Cost of Issuance (all fees itemized) for potential June, 2011 $10,000,000 sale through Piper Jaffray • Specific Bond Timetable • Outlines for Competitive and Negotiated Sales • April, 2006 No-Tax-Increase Post Sale Pricing Analysis

  9. Plan of Finance Proposed Timetable • May 12, 2011 • Presentation & Recommendation to Board of Education by Piper Jaffray • Go to Market Resolution for Piper Jaffray and Gilmore & Bell to proceed with bond timetable and paperwork OPTION 1 – Negotiated Sale • Identify Piper Jaffray as underwriter and move forward with a negotiated sale • Provide for some local distribution of bonds OPTION 2 – Competitive Sale • Identify Piper Jaffray as financial advisor and move forward with competitive sale of bonds • Local distribution not available in competitive sale

  10. Plan of Finance Proposed Timetable • Week of May 16, 2011 • Schedule Rating Call with Moody’s to update District Bond Rating OPTION 1 • May 26, 2011 • Recommendation to Board of Education by Piper Jaffray • Parameters Resolution recommended to Board of Education would approve of terms and conditions of sale or parameters of sale • Week of June 6, 2011 • Sale of Bonds OPTION 2 • June 9, 2011 • Sale of Bonds (contingent upon Board approval) • Recommendation to Board of Education by Piper Jaffray • Recommendation to Board of Education to approve sale of bonds

  11. Plan of Finance Proposed Timetable • Week of June 20, 2011 • Bond Closing

  12. April, 2011 No Tax IncreaseBond Projects Proposed Timeline Board of Education Meeting April 28, 2011

More Related