NLSD to save $225,000 by refinancing
Northern Lehigh School District will save $225,000 through the refinancing of several bond issues.
On an 8-0 vote, the school board agreed on Monday to adopt a resolution for future non-electoral debt for the refinancing of its 2009 bond issue and a portion of its 2010 bond issue. Director Donna Kulp was absent.
In a related matter, the board authorized administration to execute an Investment Management Agreement with Robert W. Baird & Co. to provide advice and supervision for the future refinancing of the 2009 bond issue, and a portion of the 2010 bond issue.
The board's decision came after it heard from Audrey Baer, Robert W. Baird & Co., and Jens Damgaard, of Rhoads & Sinon LLP, the district's Bond Counsel.
Sherri Molitoris, co-director of business affairs/human resources, explained to the board that "it's not to lengthen the terms of the bonds, but to give us a better interest rate."
Also on Monday, the board tabled motions to: Approve the addendum to the agreement with Portnoff Law Associates, Ltd, to be the delinquent real estate tax collector for the 2012 tax year; approve the resolution directing Northampton County Tax Claim Bureau not to collect delinquent taxes on behalf of the school district; and approve the resolution directing Lehigh County Tax Bureau not to collect delinquent taxes on behalf of the school district.
The decision to table those matters came at the recommendation of board solicitor Charles Stopp.
In other business, the board:
- Approved the 2012-13 school district Salary Schedule.
- Approved changes to the school district's Emergency Operations Plan.
- Approved a conference request for Rhonda Frantz to attend the 58th Annual PASBO Conference, from March 19-22, 2013, at the David L. Lawrence Convention Center, Pittsburgh, Pa, with the cost of registration $284, and meals, $100, for a total approximate cost of $384, to be funded from the Business Office budget.
- Approved a conference request for Sherri Molitoris to attend the 58th Annual PASBO Conference, from March 19-22, 2013, at the David L. Lawrence Convention Center, Pittsburgh, Pa, with the cost of registration $284, lodging, $547, travel, $316, and meals, $100, for a total approximate cost of $1,248, to be funded from the Business Office budget.
- Approved two people to attend the 2012 SAS Institute: Leadership in Times of Reform Conference, from Dec. 2-5, 2012, at the Hershey Lodge in Hershey, Pa, at a cost not to exceed $1,460, to be paid from the Curriculum and Instruction budget.
- Approved school board policy #707, Property, Use of School Facilities and Equipment, as presented after first reading.
- Approved new school board policy, Operations, Electronic Records/Signatures, as presented after first reading.
- Approved new school board policy, Professional Employees, Benevolence Sick Leave, as presented after first reading.
- Granted homebound instruction for a ninth-grade student, Student No. 1690074, for five hours per week, effective Nov. 5, 2012, and continuing until about Feb. 18, 2013.