Trustees move ahead after voters approve bond
The Community School District (CSD) Board of Trustees on April 30 certified the results of the April 24 vote to bond up to $1.6 million for school repairs.
The board voted to accept the referendum results, enter them into CSD record, and certify them with the town clerks. Trustees also approved a resolution to begin the process of taking out a bond.
The 13-article resolution lays groundwork for the process to comply with the Internal Revenue Service (IRS) and tax code according to Alternative Organizational Structure (AOS) 98 Superintendent Robert Kahler. The resolution authorized the district to reach out to lenders and work with bond counsel. A lender has not been picked and board members expressed interest in considering their options.
Kahler said bond funds could take several weeks after the district finalizes a lender and bond terms. He said contractors may be fine to start work once a bond is settled, or the district might need to take out a short-term loan towards a deposit so construction can begin.
In addition, Chair Troy Lewis said he wanted to contact a state representative to learn about Maine Department of Education's School Revolving Renovation Fund. He said he wanted to learn more about how the fund works and why the CSD schools have not been eligible.