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Bond Interest Lowered: Big Savings


October 24, 2010 by wcobserver

Board Appoints New Officers

By Susan McCarthy

West Fork- School board members passed the baton to new officers Monday night, Oct 11, approved a resolution that paves the way for a 2006 bond to be refunded and sealed a new soda contract during their regular monthly meeting.

School board members unanimously approved a resolution that would refund a 2006 bond at 2.91 percent interest saving the school about $220,000 over the life of the bond which matures in 2028. The $3.1 million bond was structured so the school would receive accelerated savings, allowing them to reap about $161,000 of the total savings within the first two years.  Morgan Keegan & Company of Memphis Tennessee provided the lowest bid during the blind computer bidding process.

Deborah Harnish, who just won re-election, passed her presidential duties to school board member Jerry Boyd. Karen Daugherity will become vice president and Mark Findahl will serve as school board secretary.

The school board also approved a five year soda contract with Great Plains Coca Cola Bottling Company.  The school district had been previously been contracted with Pepsi.  The new contract covers concessions purchases as well as vending machines within the school.

In other school board news:

Superintendent John Karnes presented an enrollment report showing a reduction of 30 students since October 2009; West Fork Elementary school saw the largest attrition.

Becky  Merchant, the high school librarian, demonstrated how Apple’s itouch is being used  in the school’s classrooms.  Merchant showed school board members how students in West Fork High School can access everything from lectures and podcasts to AP quizzes.  Merchant said there are 350,000 applications can the school can tap into at no charge.

“There are tons of lessons, math lessons, science lessons,” said Karnes.  “It’s absolutely unbelievable what’s out there for kids.”

John Crowder, High School Principal, reported that he’s formed a new Campus Leadership Team; he said the eight-person team will be responsible for funneling ideas and concerns to the school’s leadership team and helping work toward solutions on any issues.

Board members approved the transfer of three students from Prairie Grove to the district.



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