Arcola Community Unified School District 306 Board of Education Building Committee met July 24.
Here is the minutes provided by the board:
Present: Tom Mulligan, Superintendent; Board Members: Dr. Robert Arrol, Lucas Shonkwiler, Erica Thieman, Sue Stout, Craig Wesch, and Chad Strader; Visitors: Ken Vogt, Jon Carroll from Poettker Construction, Kendall King from King Financial, and Dave Porter.
The meeting was called to order at 7:00 pm.
Jon Carroll from Poettker Construction made a presentation to the committee on the value of using a construction manager in a large scale building project. The committee asked several questions including: how the construction manager fits with the architect, cost associated a construction manager and specific functions of the construction manager in both the pre- construction phase and during construction.
The district then heard a presentation from Kendall King from King Financial about the district buying their own bonds for the upcoming potential construction project. The district would basically borrow take $2,000,000 from the fund reserves and use that money for construction. Then the district would use sales tax revenue each year for ten years to pay the annual principal amount plus interest back to the education fund. This would save the district from paying out over $400,000 in interest to a lender.
The committee then discussed a financial overview of the various projects going on this summer and discussed signage in the new football locker room.
The building committee meeting temporarily adjourned at 7:40 pm and then reconvened at 7:41 pm. The committee meeting adjourned for good at 8:15 pm.
https://core-docs.s3.amazonaws.com/documents/asset/uploaded_file/438058/Minutes_BLDG_Committee_-_July_24_2019.pdf
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