LP-A Board lets school bond bids
The Lake Park-Audubon School Board will open bids on three separate bond issues totaling over $21 million at a special board meeting on Tuesday, June 29, starting at 5 p.m.
The school board passed resolutions authorizing the bond sales at a special meeting this Wednesday afternoon in Lake Park.
The bond issues will be for $17.35 million in Qualified School Construction Bonds (QSCBs), $1.69 million in Qualified Zone Academy Bonds (QZABs), and $2.065 million in Build aAmerica Bonds (BABs).
The proceeds from the bond sales will be used to fund the construction of a new high school building in Lake Park, as well as a new addition and remodeling at the existing elementary school in Audubon.
The bond issue was approved by voter referendum on Tuesday, May 25, after nearly a half dozen unsuccessful previous attempts.
Once the bonds are sold, the proceeds will need to be invested in a safe, liquid portfolio, said Joel Sutter of Ehlers & Associates, which is assisting the district with the bond sale.
The board also passed resolutions authorizing reimbursement of expenses already incurred by the district for the construction project, from the bond proceeds.
In other business Wednesday, the board set a special meeting for 7 p.m. Wednesday for the sole purpose of approving contracts for architectural and construction management services.
The board opted to stay with the companies that have been involved with the school construction project. Though some district residents had expressed concerns about whether those contracts should be put out for bids, the board members felt they had already established a relationship with Zerr-Berg and Gehrtz Construction Services.
"That ship has sailed for us, as far as I'm concerned," noted Superintendent Dale Hogie. "
"I felt very confident when we made the decision to go forward with you (Zerr-Berg and Gehrtz) as a team, and I've seen nothing in the past four years to change my mind," added Board Chair Vicky Grondahl.