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R-XI BOE weighs bond options

By Russ Green/Richmond News

Finances and future budget concerns highlighted Monday’s Orrick Board of Education meeting in the school library. Roger Adams of LJ Hart and Company addressed the board at the request of Superintendent Aerin O’Dell. O’Dell had asked the company to bring some information to the board concerning future bond issues.

Adams told the board the last time he met with them was in 2011, when the 2006 bond issue was refinanced.At that time, the district had gone through two years of its assessed valuation dropping.

“You were at the point where the 75-cent levy wasn’t going to be enough to make your payments on your bond issue,” he said. “What we did back then was to restructure your debt so you could save the 75-cent levy.”

Adams added that although the savings weren’t huge, they came to almost $20,000 and there have been no problems since.

Adams handed out two booklets of information to the board that described possible bond issues.

“A lot of schools are doing exactly what you’re doing,” Adams said. “They are looking at 2014, 2015, 2016, knowing somewhere along the line they are going to have to do preventive maintenance, need to do roofs, windows, security and things like that. What we have tried to do is look at 2015-16.”

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