School district to pursue bond rating
Various staff, students, and community members had the opportunity to review the proposed building plans and provide input. Two solid days were spent planning with architects from Design West Architects from Pullman. Several community members also attended a meet and greet with the architects. They were able to ask questions, give input, and talk about the time line of events. In the picture are teachers Paul Olsufka and Andrew Perkins, Architects Laurence Rose and Cameron Golightly, and students Tanner Christensen, Jake Janett, Miguel Lopez, and Austin Walz.
ROYAL CITY - The Royal School Board will seek the district's own bond rating before putting school construction bonds out for sale, according to district business manager David Andra.
The board heard a presentation from Jon Gores, the district's bond underwriter, at its meeting of May 20. Gores told the board that the district is in good financial health and currently has no debt.
According to Gores, Washington school districts are able to use Washington State's bond rating of Aa1. Because of the district's financial situation, Gores suggested it would be advantageous for the district to apply for its own credit rating from Standard and Poor's.
A favorable bond rating, Andra said, along with the state guarantee, helps achieve a lower interest rate on the bonds, which means a lower cost to the tax payers. Gores will work with Superintendent Rose Search and Andra in the coming weeks to achieve the best deal for the tax payers, Andra said.
The board also heard from bond attorney, Jim McNeil. The board passed two resolutions authorizing the issuance of bonds and to establish a system of registration so the bonds can be tax exempt.
On the construction front, the district's architect, Laurence Rose of Design West Architects in Pullman, spent two days with a team of staff, students, and community members.
Rose has worked with the district for several years to identify needs and turn the ideas of the staff and community into a design concept. The two days spent with staff, students, and community was to work on details such as room dimensions, storage, built in cabinetry, lighting, etc.
Staff and students were able to provide input on what works well in their classrooms and what they think the new school should be like. This work will allow Rose to further develop the concept into more detailed plans, Andra said.
For questions, you may contact Andra at (509) 346-2222 or dandra@royal.wednet.edu