ALGONA COMMUNITY SCHOOL DISTRICT
JANUARY 11, 2021
The Board of Directors of the Algona Community School District, State of Iowa, met in regular session, in the Central Administration Board Room, 600 S. Hale Street, Algona, Iowa, at 7:00 p.m. on the above date. There were present President Davis, in the chair, and the following named Board Members: Limbaugh, Louwagie, Nugent, Owen and Vinci.
Absent: Bartelt
Others Present: Superintendent Carter, Secretary Cooper, Deb Miller, Vicki Kaiser, Phil Stein, Rick Adams and Brian Wilson.
Approve Agenda: Vinci moved to approve the agenda as posted, seconded by Owen. Ayes 6, Nays 0, Carried.
Consent Items: Limbaugh audited invoices and found everything to be in order. Owen moved to approve the consent items, seconded by Nugent. Ayes 6, Nays 0, Carried.
Communications to the Board:
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Matt Gillespie of Piper/Sandler spoke to the board about the bid that was received and the savings that resulted from this bid.
Superintendent Report:
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Superintendent Carter gave a financial review of how finances are now and how they look projected out 5 years.
New Business:
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Nugent moved to approve to hire a Director of Teaching and Learning for the 2021-22 school year, seconded by Vinci. Ayes 6, Nays 0, Carried.
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Limbaugh moved to approve the Early Teacher Retirement Applications of: Dianne Aboud, Lori Ludwig, Jill Cook, Anita Gerhard, Janet Voteler, Mary Haverkamp, Phil Stein and Jim McMahon, seconded by Owen. Ayes 6, Nays 0, Carried.
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Vinci moved to approve the Agreement with Aptegy, seconded by Louwagie. Ayes 6, Nays 0, Carried.
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Board Member Vinci introduced the following Resolution entitled “RESOLUTION DIRECTING THE SALE OF APPROXIMATELY $8,847,000 SCHOOL INFRASTRUCTURE SALES, SERVICES AND USE TAX REVENUE AND REFUNDING BO D, SERIES 2021,” and moved its adoption. Board Member Limbaugh seconded the motion to adopt. The roll was called and the vote was: Ayes: Vinci, Owen, Nugent, Louwagie, Limbaugh and Davis. Nays: 0. The President declared the Resolution adopted. RESOLUTION DIRECTING THE SALE OF APPROXIMATELY $8,847,000 SCHOOL INFRASTRUCTURE SALES, SERVICES AND USE TAX REVENUE AND REFUNDING BONDS, SERIES 2021. This is the time and place for the sale of School Infrastructure Sales, Services and Use Tax Revenue and Refunding Bonds,
JANUARY 11, 2021
Series 2021 (the “Bonds”); WHEREAS, the School District has received proposals for the sale of the Bonds and has arranged for the sale of these Bonds to Iowa State Bank, at a purchase price of par, plus accrued interest to date of delivery: NOW, THEREFORE, IT IS RESOLVED BY THE BOARD OF DIRECTORS OF THE ALGONA COMMUNITY SCHOOL DISTRICT IN THE COUNTY OF KOSSUTH, STATE OF IOWA:
Section 1. The sale of approximately $8,847,000 School Infrastructure, Sales, Services and Use Tax Revenue and Refunding Bonds, Series 2021, to be dated the date of delivery, for the purpose of providing funds to construct, furnish, and equip an athletic facility complex, including an entrance, softball field, and ADA accessibility improvements; and to currently refund the outstanding School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2015, dated June 23, 2015 and the outstanding School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2015B, dated November 3, 2015, upon the following terms, is approved and confirmed.
Section 2. That the President and Secretary are authorized and directed to issue and deliver approximately $8,847,000 School Infrastructure Sales, Services and Use Tax Revenue and Refunding Bonds, in the aggregate principal amount of approximately $8,847,000 each in the denomination of $100,000 or integral multiples of $5,000 in excess thereof, bearing interest and maturing as follows:
Principal Amount Interest Rate Maturity Date
$8,847,000 1.00% 07/01/2030
Section 3. That all acts of the Superintendent of Schools and Board Secretary done in furtherance of the sale of the Bonds are ratified and approved.
PASSED AND APPROVED this 11th day of January, 2021.
e. Louwagie moved to approve the Classified Retirement Program for the 2020-21 and
2021-22 school year, seconded by Owen. Ayes 6, Nays 0, Carried.
f. First Reading of Board Policy 300 Series
Personnel:
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New Contracts – None
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Limbaugh moved to approve the resignations of Dianna Haynes-Middle School Volleyball Coach and Brooke Fonley-Middle School Softball Coach, seconded by Louwagie. Ayes 6, Nays 0, Carried.
No further business. Owen moved to adjourn the meeting at 8:10 p.m., seconded by Vinci. Ayes 6, Nays 0, Carried.
