The Dunlap School Board voted to approve a resolution authorizing the issuance of approximately $44 million in debt certificates to build and equip a new elementary school and to renovate and improve school facilities and sites.
During discussion, board members and staff clarified the $44 million figure reflected the option selected for a new school sized for roughly 700'750 students and associated site work; staff said the current cost estimate provided by consultants Mark Bibi, Kirk Anderson and PJ Hair was about $43.5 million, and the board rounded the authorization to $44 million to allow flexibility. Board members noted the authorization does not include playground replacements for other schools or additional structural projects (playgrounds and HVAC replacements were discussed separately during the financial presentation).
Board members asked whether the authorization could be increased to cover additional capital needs. Superintendent Dr. Dearman said the final issuance amount would be set when the board decides how much to borrow; "there is a cost associated with it" and increasing the bond amount would increase borrowing costs, he said. He also noted that if the board chose to add projects to the borrowing plan it should weigh that against the district's operating outlook.
A motion to approve the resolution passed by roll call. The transcript shows a mix of votes; board members identified in the roll call included Rutherford (aye), Feldman (aye), Paul (no), Tyler (aye) and Wigeshaft (aye). The motion carried.
Board discussion included confirming that $2 million of the authorization would be left for discretionary board-approved uses and that the specific construction scope (option 1 in the consultant work, which included pre-K classrooms and an additional road labeled the "B road") was the basis for the estimate presented to the board. Staff said the quote did not include the additional playground replacements or other structural work Dr. Dearman had highlighted in his financial presentation; if the board later wanted to include further items, staff would return with options and final issuance amounts.
The resolution authorizes staff to pursue issuance; final terms, project list and timing will be set by the board and finance advisors during the bond issuance process.