Post #2
Eagle Vision Part II
Working Cash Bond
The highest priority maintenance/renovation project identified for our school district facilities is replacing the heating and air conditioning system on the original section of the Newton Elementary Building. The current HVAC system includes a boiler and steam pipes (1951 vintage) and window air conditioner units in each classroom. Repetitive leaks in the piping system have shut down the heating system over the past few years. The window air conditioner units are loud and challenge communications between teachers and students. In order to effectively communicate to the students, teachers wear microphones linked to speakers in the classroom. Replacing the current system would 1) improve system reliability, 2) enhance communications between teachers and students, 3) enhance energy efficiency, and 4) will avoid major repair costs for the HVAC system.
To address the urgency of this renovation, the project team has chosen to exclude it from the Facilities Renovation and Expansion Project and complete the upgrade as a maintenance project managed by JCCU1 maintenance personnel in 2021. The estimated cost is $600,000 to $750,000. Currently the JCCU1 Working Cash fund has a balance of $ $495,000 (Dec. 2020); a portion of those funds will be used to fund this renovation. To cover the balance of the expense, the School Board voted to move forward with a resolution of intent to issue a short-term working cash bond (1 yr loan), for $240,000.00 (the resolution was for not to exceed $300,000.) This renovation is scheduled to be executed in the summer of 2021. This working cash bond will NOT increase property taxes but rather will replace one of the current school bonds that expires in December, 2020.
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