By CHRISTY JANKOWSKI
Architect, Damien Schiltt, with BLDD shared with Cerro Gordo the bids that were acquired for their brick re-facing project. The board approved Peter-Kuhne Company for the project for a total of $600,400.
As far as what it will look like, Schillt stated, “It’s actually going to be more so at the stone color, kind of on the products kind of more of a bump. The back is really just sprayed concrete. You know, it’s just gray, it’ll be more of a stone color so it’ll blend in with the stone that’s around the south end as well as some of the detail work.”
“Yeah, so the bottom portion of the original gym building at all comes all the way down to the brick ties, new brick ties, new air barrier, the portion that’s around the newer portion of the 2019 edition. That is getting the thin brick of hero brick is in good shape. You know structurally, you can adhere to that.” Schillt describing the brick.
The district is looking at putting up “It was interlocking CG and stone. And up until that time we were even talking about the potential for brick up above. So you will see in reality with all the alternate work, you’re looking at about $631,000 total project.”
The project should be completed by August.
Cerro Gordo Sells $2 Million in Working Cash to Save District Funds
The board approved selling $2 million in working cash as they can only carry around $2.94 million. The district also abated one million. Robinson stated during the meeting, “And I’m going to recommend that it be done in the capital projects fund. And that can help take care of other items we just approved, and an item that we anticipate looking at improving next month, board meeting that the bids are going to be coming in next week on our playground budget.”
Next, the board approved a resolution for “the issue, not to exceed $1,500,000 to actually general obligation bonds series 2021 A, for the purpose of increasing the district’s working cash bond, providing for the levying of taxes to pay set bonds and authorizing the sale of bonds to the urge to serve.” Board President Piriano added, “The purpose of increasing the district’s working cash or education, the doctrine of resolution providing or the issue of set bonds and a levy of a direct tax sufficient to pay the principal and interest and authorizing the sale of such bonds to the Educational Fund of the district.The President then explained that the resolution set parameters for the issuance and sale thereof. By designated officials of the district could summarize.
Robinson simplified it by stating, “So, again, this is one that we are purchasing ourselves with the fund balance that we have in education. So we will earn the interest as opposed to paying somebody else interest on. We’ve done this before.” The district did this in 2016 prior to the referendum for the Renovation and Addition.
As for the ones sold in 2018, Robinson stated, “Those are ones that we can refinance at a great savings to the district to the tune of about $320,000 over the life of the bonds as the primary purpose that we’re doing this. And then as you recall from the one we just did and said not to exceed $1.5 million.”
King stated, “Remember we met last October or November-ish, whatever…To start this process and start the conversation about just how ridiculous, the low rates have gotten. And, and then we also then went through the process, obviously we really appreciate it First-Mid. Two years ago and what they did. And the simple fact is that a lot of banks just don’t want to own bonds at these ridiculously low rates. And that’s what turned into needing to go this time to do a public offering to an underwriter and let them go find the right buyers that are willing to do this.
Adding, “But at the end of the day we don’t care. All we care about is what kind of good interest rates we get.”
“Over time, the bonds that you will be purchasing will remain currently callable; everything you need to turn around resell them outside and get your cash back. Easily or restructured very easily.”