WASD Takes Next Step In Referendum Process

1/24/17 – The Waupun School board last night began the process of financing for work related to the $36-million-dollar referendum approved by voters in November. The board approved $26-million dollars in short-term borrowing as part of a three-step process designed to gain the lowest possible interest rate.  Michel Clark with financing company Baird says the district will lock-in bonds on the long- term borrowing for the $26-million in May and then borrow the remaining $10-million next year.  District residents will see little change in the school portion of their property tax bill because debt from their last referendum will be paid-off next year as the new debt payments are added. Clark says structuring the financing in three phases allows the district to avoid penalties that would impact state revenues. The referendum is funding secure, visible main entrances at Meadow View Primary, SAGES School and Rock River Intermediate; addresses aging infrastructure, deferred maintenance and ADA accessibility at all four district schools, including HVAC upgrades, window replacement, and parking lot improvements among other projects; renovating classrooms and creating flexible learning areas to support college and career-readiness, making age-appropriate updates, establishing large group instructional spaces, upgrading cafeterias and making the gym at Meadow View regulation size. Also last night, the school board tabled a vote on hiring CG Schmidt as a construction manager until contract details can be finalized, forcing the need for a special meeting prior to a February deadline.