| OCR Text |
Show iisiFies Sqlls Mil! leiio By ROSELYN KIRK FARMINGTON - Davis County School District sold $5 million in bonds to CitiBank and Associates of New York, the lowest of 11 bidders in a bond sale held Tuesday evening. even-ing. The bonds were sold at a net interest rate of 4.875 after that bid was recommended by the fiscal agent from Burrows, Smith & Company, the school district's bonding agent. THE MONEY will finance a building project in the school district, officials said. The J5 million in bonds is part of an $18 million bond issue which was passed three years ago. The board has previously authorized the sale of $8.5 million in bonds. After the $5 million sale on Tuesday, $4.5 million in bonds is available for sale at a later date. THE BONDING agent said all eleven bids were competitive competi-tive and represented banks from all parts of the country. The school district authorized the company to prepare for the sale of the bonds about two months ago. Burrows and Smith advertised the bond sale nationally to get the best interest rates, the company said. - In other business, the board accepted low bids for the construction of media centers at Davis High School and South Davis Junior High. The district is looking toward an October 12 completion date, . according to Dr. Dean Penrod, director of buildings and grounds. THE MEDIA center and three classrooms at Davis High will be constructed by . Burton Construction, Salt Lake City at a cost of $449,995. Mr. Penrod said that all bids were checked by Stanley C. Evans, architect, who recommended recom-mended the low bid. The completion date of 180 days "is very optimistic," Dr. Penrod said, but the district will make monthly checks to determine whether construction construc-tion is on schedule. The district dis-trict had estimated construction construc-tion time at six to eight months and the cost at - $500,000. South Davis Junior High media center contract was also given lo the lowest bidder, Carl Collram Construction Con-struction Company, Magna at the low bid of $162,000. The cost of that construction had been estimated at $170,000. j The board questioned if the completion date of the construction, con-struction, which was 30 days longer than any of the other three bidders, might not preclude accepting the low bid. Dr. Penrod said the architectural firm of Montmorency, Mont-morency, Hayes and Talbot recommended that the county accept the low bid even though the time frame for construction was longer. "The low bidder has a good reputation for completing on time," he said. ACCORDING lo Dr. Penrod ihe contracts will be let before the end of the week and crews could be on the job in three days. In other business, ihe board voted to hold a sale of obsolete Hems no longer needed by the school district and tentatively set the sale for April 29 at the I- reeport Center. Roger (i lines, clerk of the board, will conduct the sale and determine de-termine what is obsolete. Superintendent Hernell Wrigley said. MANY OF Ihe items are old wooden chairs and desks which are not currently used. The items will be priced and not auctioned off, school ol-lii ol-lii ials said. The board also approved a request to purchase band uniforms in addition to 7.") tuxedo coals for the Davis High School band. The cosl of the uniforms is estimated at $:tl,700. In approving the purchase, the district will follow Ihe normal procedure of paying five-seventh of ihe ; cost of Ihe uniforms or about : $24. 7(H). The school has raised . two-seventh of the cost or about $7,000. -. THE BOARD also agreed lo join in an application with ; Kaysville for slate sidewalk : lunds made available by the legislature. If constructed the : sidewalk would follow Main : Street south from Davis High. : Superintendent Wrigley said. it the funds are granted, the ; district share of the project : will be about $6,000. He said : even though the district par- ticipates on the application, : that does not mean they are ' obligated to provide the funds ; if the money is granted. The board also approved a request for nine students, who are members of the Golden Spike Symphony, to miss three days of school for a concert tour to California on April 28-Mav 2. |
