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Show School district to sell and refund bonds By DONETA GATHERUM FARMINGTON In order to realize a one million dollar savings on bonded indebtedness and in order to finance new portable classrooms, clas-srooms, the addition to Central Davis Junior High and the remodeling remod-eling of other schools to accommodate accommo-date growth, the Davis County Board of Education Tuesday evening even-ing authorized the sale of $4.7 million mil-lion in new bonds and the refunding, refund-ing, or selling bonds a second time at a lower rate of interest, $36.3 million worth of existing bonds. This action took place alter lengthy leng-thy discussion and comments by the district financial advisor, Larry Denham and Scott Robertson, spokesman for the Utah Investment Invest-ment Banking Community. Mr. Robertson stated he was "disappointed that the Utah in vestment bankers weren't invited to make a presentation regarding bonding." Supt. Richard Kendell said he felt the best way to choose a financial finan-cial representative was to "let the market decide." Board members asked many questions of Mr. Robertson and Mr. Denham before making the decision de-cision to go with the original bond sale proposal presented by Mr. Denham. De-nham. The one million dollars saved through the funding process will be used to pay shortfalls in the employee em-ployee insurance program that occurred last year. The district's commitment to make the insurance program solvent was part of the contract negotiated with the DEA and the classified employees association. |