West Clark board approves $5.7 million general obligation bonds PDF Print E-mail

The West Clark Community School School Board voted unanimously to approve three bond issuances at its regular meeting August 10.


The approvals, which totaled $5.7 million, came after a public hearing, where only one person, Matt Zarnecki, signed-up to speak.

His comments weren’t, as much about the $5.7 million, as they were about the referendum on the ballot in November.

Zarnecki encouraged the board to do their homework and make sure they were presenting as much information to the public as possible.

“. . . There will be people who vote no for the referendum simply because they don’t have enough information,” he said.

The referendum will be voted on in November, but the General Obligation Bonds approved by the board on August 10 are broken down into three series, according to West Clark Superintendent Chad Schneck.

The A series is a $2 million general obligation bond and will be for Henryville High School and Henryville Elementary School for an HVAC project. The money is limited to that project and for those buildings.

The B series is for $2 million for improvements to be made to Borden Elementary School for the HVAC and other collateral purposes.

The C series is for $1.7 million for Silver Creek Elementary and Middle School for HVAC and other purposes.

An additional $2 million will be in a D series general obligation bond, but the board will not vote on that for approval until 2018.

Schneck said each series will have a debt impact of $.07, and he explained the bonds in more detail to the board and those in attendance.

“These (general obligation bonds) are something completely different than what we are talking about with the large $95 million (referendum),” he said. “Those will be holding corporation bonds and require a lot more hoops for us to jump through. Where these general obligation bonds, once the board approves them (tonight August 10), we anticipate the money being available sometime in October.”

Schneck said the plan would be to have all the general obligation bonds paid off before the larger projects from the referendum starts.

In other business

The board also approved the consent agenda, which had a number of personnel matters including the hiring of Robert Briscoe as principal at Silver Creek Middle School.

“He is a math teacher at Silver Creek High School,” Schneck said. “He interviewed against several top notched candidates and he impressed us. We are fortunate to have him on board.”

The board’s next meeting was Monday, August 28. They will meet again on September 11 at 7 p.m. in the administration building at Silver Creek High School.