(STURGIS) – The Sturgis Board of Education took a step Monday to refund some outstanding bonds.
During the Sturgis Showcase, Nathan Watson of PFM presented to the Board a plan to refund $5.7 million in bonds that the School District has on their books with the State of Michigan's School Board Revolving Fund. If the District is able to refund the money, Watson says they will continue to levy the same millage amount they currently do. LINKC.
Watson explains how PFM will help the School District get a bank to work with them. LINKD.
Watson says whatever bank offers the School District the lowest cost of funds and meets the parameters set forth in the resolution, that proposal will be brought back to Sturgis Superintendent Art Ebert. The parameters are to have a minimum net present value savings of 2 percent, and a true interest cost not to exceed 3 percent.
By a unanimous vote, the Board of Education approved the resolution to start the process and give Ebert the ability to sign the given documents.
(08-23-2019) Historical Society Presenting Titanic Speakers
(08-23-2019) Sheriff's Department Investigating More Thefts
(08-23-2019) Eastern Equine Encephalitis In St. Joseph County
(08-23-2019) Siler Enters Plea In Child Abuse Case
(08-23-2019) Chain O Lakes Has Welding Grads
(08-23-2019) Woman Arrested On Multiple Charges
(08-23-2019) Benefit Auction And Supper For The Farm Place
(08-23-2019) Michigan Attorney General Files Charges Against Priest
(08-22-2019) Sheriff's Department Investigating Thefts
(08-22-2019) Three Rivers Commission Approves Pay Raise For Bippus
(08-22-2019) United Way Roofsit A Success
(08-21-2019) LaGrange County Commission Reschedules Meeting
(08-21-2019) Road Work Happening In Howe
(08-21-2019) Sturgis Journal's Corky Emerick Passes Away
(08-21-2019) Constantine Man Sentenced On Child Porn Charges
(08-21-2019) Changes In Student Drop Off At SMS
(08-20-2019) Man Arrested On 11 Year Old Warrant
(08-20-2019) Fire Destroys Constantine House
(08-20-2019) Man Struck And Killed On I-69