Bond update from La Grande School District Superintendent George Mendoza
By Shannon McKone on Tuesday, August 16th, 2022 in More Top Stories Northeastern Oregon News
LA GRANDE – La Grande School District Superintendent George Mendoza (GM) spoke with Elkhorn Media Group staff after the most recent school board meeting and one of the updates that Mendoza gave was an update on the bond.
(GM) We sold the bond on August 2nd. The true interest cost came in at 2.77%, we were able to sell the bond and actually get about $600,000’s in premium. That’s in addition so we’ll have a little bit more because of that premium. We’re still going to be below $1.93, or at $1.93 in terms of accessed Levy value for 13 years. So, all the same kind of terms that we used to have are still in place, so residents won’t experience more than a $1.93, it should actually be more like $1.92 in terms of accessed Levy cost. Now we have put out a request for proposal to get contractors to come in for a build design for the multi-youth academic center, so we talked a little bit about that process. August 30th is when everything gets turned in for that. And then we’ll have a committee that helps us to review the criteria for selecting a contractor, and then potentially even interview. so that the board, in September, will have a recommendation for who to select as the contractor for the multi-youth center.
We also talked a little bit about naming buildings, we purchased the Adam Professional Plaza, although we’re not going to call it Adams Professional Plaza for much longer, but we have to come up with the name, but we purchased it now and of course it’s going to have our maintenance and operations.
