Hannibal schools will seek voter approval to build two new facilities and upgrade other buildings, all while avoiding a tax increase and saving big time on interest payments.
Board members agreed Wednesday to put a $13 million bond issue on the April 6 ballot. A simple majority is required for passage.
Administrators say the district is in sound financial shape and will save more than $1.8 million by financing the bonds at low interest rates.
“This bond issue is coming at a very fortuitous time,” said Board President Henry Sweets. “The interest rates are low. Because they are so low, we have the opportunity to do this without raising the tax levy.”
The most expensive projects will be the estimated $7.5 million replacement of Mark Twain Elementary and the estimated $4 million construction of an Early Childhood Center.
Smaller projects that would include wall repairs, exterior renovations and new equipment are planned for the other attendance centers.
“Rather than just put all of our money into new buildings, we’re also trying to keep our older buildings viable for the future,” said Superintendent Dr. Jill Janes.
The district has had good luck in the past with bond issues that included a variety of work, and planning for the April election actually began years ago.
One advantage Hannibal has is that it has paid off or refinanced other bonds and has seen a growth in assessed value.
The district’s bonding agent, Dick Bartow, said interest rates are lower than they were 50 years ago when the district where his father was superintendent sought passage of a bond issue.
“It’s a great time to be be borrowing money for school districts in Missouri,” Bartow said.
Residents will get their first chance to see drawings and other specifics during a public forum at 6:30 p.m. Jan. 26 at Veterans Elementary, 790 N. Veterans Road.
The new grade school would have three levels and would be across the street from the 107-year-old existing structure at 2714 Bird.
The Early Childhood Center, which would house Parents as Teachers, special services and other programs, would be south of Veterans.
If voters OK the bond issue, the district would start projects in spring 2011 and be finished in summer 2013.
Sweets retiring
The bond issue will be the only election matter of direct concern for Sweets.
He has decided not to seek another term.
“I think 18 years is long enough,” Sweets said with a smile.
When the long-time curator of the Mark Twain Boyhood Home & Museum joined the board, his daughter, Amy, was not quite ready for kindergarten.
On Wednesday, she and six other people were appointed substitute teachers in the district. Sweets’ son, Henry IV, also went through the Hannibal school system.
True to form, Sweets abstained on the vote concerning his daughter.
Incumbent board member Jim Humphreys and two new candidates, Linda Clark and former Hannibal High principal Darin Powell, have filed for the April 6 election.
Voters will choose two candidates.
Other action
The board also:
• Approved the 2010-2011 calendar. School will begin Aug. 20 and end May 20.
• Played a math game with five visiting students from Veterans as part of the cooperative learning program.
• Got a progress report on the Comprehensive School Improvement Program.
• Heard that 56 percent of students qualify for free or reduced-cost food services.
• Learned that December attendance was more than 94 percent, up one percent from December 2008.
• Was honored in advance of Missouri School Board Recognition Week Jan. 24-30.
