Plans for new high school on fast track
Posted on Sunday, June 15, 2008
It was no more unusual to see Ken Ramey pulling at the fabric of his red tie Tuesday night than to see him pacing the tiled floor at the Benton County Election Commission in Bentonville. Before the vote, the Siloam Springs School District Superintendent would pause his brisk walk through the campus long enough to admit that his stomach was knotted in anxiety. "If this doesn't pass, I just don't know," he said, shaking his head in a slow, worried manner. "If it doesn't go through, it's beans and hot dogs. "The 5. 4-mill tax increase needed to finance building a new high school passed though, and now, school administration can look beyond processed meat and canned vegetables.
Siloam Springs voters passed the tax increase to the current 39. 6 mill rate to fund the building of a brand new school for grades 9-12. With all precincts reporting, the official results showed the vote passing with 998 votes in favor to 833 against. With 55 percent of the property tax payer's votes in support of the proposal, the mill will raise the $ 33, 377, 015 needed by the district to fund the building. The mill funds will be added to $ 15 million pledged by the state, $ 3 million from the school district and $ 500, 000 in private donations that have already been secured for the project. The superintendent's anxiety over the poll results wasn't unfounded. In both 2000 and 2002, local voters rejected similar millage increases. A mill increase that passed in 2004 funded the building of Allen Elementary School and a variety of other district-wide projects. Since Wednesday morning, persons trying to unearth Siloam Springs School District Chief Financial Officer Quintin Trammell from the high rise of paperwork weighing down his desk, have been greeted with a wide grin. "We are very pleased during these troubling economic times that citizens were willing to step forward, approve a tax increase and make a new high school a reality," said Trammell. "This showed a strong commitment on the community's part toward the school."
Months of diligent work on the part of administration, school board members, city officials, a force of volunteer-formed committees, local residents and school employees, has paid off.
With the help of the money collected from the mill increase, in 2011, a new high school in the northeastern part of Siloam Springs, will open its door for the first time.
"Well, now a lot of work and a lot of waiting begins," Trammell said. "We've e-mailed the bond advisors, they're putting a timeline on selling bonds and watching rates. "
Bentonville financial adviser A. V. "Buster"Beardsley III, president of First Security Beardsley Public Finance, and his son, Scott Beardsley, were hired in February to serve as the district's bonds consultant.
"They will physically close the bonds, sell the bonds and take care of a lot of the paperwork," Trammell said. "We have a date of February 2009 that we have to sell by but if we think the interest rates are climbing we might want to sell earlier."
As put forth by the tentative timeline, the bid for the construction of the project will go out to contractors at the end of March or first part of April.
"By the time that we go out for bids on the contract we'll need to have the money in the bank," Trammell said. "It's required that it is out for bid for 30 days and we expect to accept bids roughly around May 1."
Before bids can be made, bonds may be sold or the project can launch full-swing, a project agreement between the district and the Department of Education must be met.
"This partnership agreement is the initial agreement between the school and the Division of Academic Facilities," Trammell said. "Now that the millage has passed we're in the stages of filling out paperwork."
Because of the large contribution from the state for the project, the district will be required to submit updated plans to the Department of Education for approval throughout the project.
"It's our hope that they don't delay us but, of course, this is all brand new to us," Trammell said. "When we've accepted a bid we anticipate that they'll begin building immediately."
Provided that all plans are accepted and move along accordingly, the building will be complete in June of 2011.
"We really need about 60 days to move into a building, get it occupied, set up and ready for the first day of school," Trammell said. "Honestly, 60 days isn't much time."
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