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Palmerton working to secure bond for school project

The final piece of funding for a Palmerton Area School District addition and renovation project was set in motion during Tuesday night's board meeting.

On a unanimous vote, the board authorized the administration to work with Public Financial Management to secure a bond to be paid back over 19 years.The final amount of the bond has yet to be determined, but district officials did discuss $10 million at a workshop earlier this month.If a $10 million borrowing occurs, Palmerton's annual debt service would jump from $1.8 million to $2.18 million," Zach Williard, PFM senior managing consultant, told the board on Sept. 6.The move on Tuesday allows PFM to begin a process that will culminate with it shopping for low interest rates that could be locked in by Thanksgiving, according to Williard.The money would go toward a 13,420-square-foot addition to the existing Palmerton Junior High School building, and renovation to the track and football field with a synthetic turf and drainage system, among other improvements.Palmerton previously borrowed $9.6 million and plans on using $6 million from its capital reserve funds to help pay for the project.No additional discussion took place before Tuesday's vote.Other businessIn other district news, the board approved the establishment of a scholarship account funded by Blue Ridge Communications TV-13 in memory of Robert Mlkvy, a standout basketball player, student and broadcaster.Superintendent Scot Engler said the scholarship would go to a student with high academic honors who excelled at basketball.The board on Tuesday also approved the license performance and production contract with Music Theatre International for the stage performance of "Little Shop of Horrors" by the drama club in April 2017, and approved a letter of agreement with the CSM Medical Care Corporation for generator costs for the dental van in the 2016-17 school year.