Brandywine district to resell bonds

Published 9:09 am Friday, November 13, 2015

Taxpayers may see some relief as part of an effort by the Brandywine Community Schools district to resell bonds.

On Monday, the Brandywine school board voted to authorize the reselling of bonds passed by voters in 2006 and 2007, Supt. Jarpe said.

“Hopefully it will give our taxpayers a break,” he said, adding that the district would not receive any funding from this move. “We’ve been told that the market is right to do it now.”

The board will be using the William & Blair Company to find potential buyers for the bonds, which together total just more than $13 million.

Kathy Holy, the district’s business manager, said the bonds would likely not be sold until this spring, so it would be at least a year until taxpayers see any savings, if there are savings to be had.

The bonds, she said, are set to expire in 2027/2028.

Jarpe and Holy said it is too soon to determine how much savings taxpayers could expect from reselling the bonds.

Also Monday, Holy provided the board with an update on a roof project expected to cost about half a million dollars.

Holy told the board that the Hoekstra Roofing Company is making good progress and she expects work on the high school/middle school roof to be finished soon. Hoekstra would then move on to the roof at Brandywine Elementary School.