Pikeland takes first step to issue bonds for summer maintenance projects

Posted: Apr. 17, 2014 11:24 am Updated: May. 8, 2014 1:15 pm

Herald-Whig Staff Writer

PITTSFIELD, Ill. -- The Pikeland School Board intends to issue up to $1.15 million in general obligation bonds to cover summer maintenance projects in 2014 and 2015.

Board members adopted a resolution Wednesday marking a first step in the process. The bonds will be repaid over eight years using $250,000 of the $450,000 the district expects to get each year from the 1 percent school facilities sales tax approved in April.

School Board President David Barton said the bonds will cover work planned this summer to resurface the track, oil and chip campus roads, redo blacktop behind Pikeland Community School and replace the clock/bell systems at Pittsfield High School and South Elementary School, along with work to air condition South and PHS in 2015.

The $1.15 million "is the maximum" amount for the bond issue, even though bids have not been approved for all the projects, Superintendent Paula Hawley said.

Even with repaying the bonds, the district still will have another $200,000 per year from the sales tax to use for additional projects or to abate additional taxes.

Board members approved Stifel, Nicolaus and Co. as the underwriter for bonds issued in 2014 and 2015.

Hawley said the board will look at a similar resolution in May tied to issuing bonds for required life-safety work in district buildings.

Also Wednesday, board members approved bids of $85,995 from Alarm Solutions of Quincy for the clock/bell system and $59,480 from AAA Asbestos of Pana for removal work tied to a window replacement project at South and PHS.