School board votes to refinance bonds

Wednesday, September 12, 2001

The Rector School Board voted Monday night to allow Jack Trumper, vice president of Stephens, Inc., to refinance the school's three bond issues. Because the interest rates have dropped, Stevens said that he could save the school district over $140,000 over the term of the bonds by recalling the bonds and putting them out for bids. The bonds are scheduled to be paid off in 2015.

Superintendent Kelly Scobey presented the school board with the budget for the 2001-2002 school year. Barring any unforeseen changes or expenses, Scobey said he expects the school to finish the school year with a balance of $1,275,175. The closing balance of the 2000-2001 school year was $1,954,154.

Scobey also informed the board that school staff development days for teachers have been approved by the state. They are Oct. 26, Feb. 8 and April 19.

In other business, the school board:

*employed Cynthia Travis as a special education aide.

*employed Mary Sanders as a cafeteria worker.

*accepted the resignation of Jim Waldron as bus driver, effective in November.

*hired Linda Waldron to fill the bus driver position.

*accepted the resignation of Judy McCord as a custodial employee.

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