School bond vote tabbed for February

By Christina Calloway

PNT senior writer

ccalloway@pntonline.com

The Portales schools Board of Education passed a resolution Monday night at its monthly meeting for a 2014 special school bond election.

The $5.5 million bond issue slated for Feb. 4, 2014 is for the purpose of purchasing or improving school grounds, purchasing computer software and hardware, and providing matching funds for capital outlay projects funded pursuant to the Public School Capital Outlay Act among other things.

The bond will have a life of 14 years. Paul Cassidy with RBC Capital Markets said there would be no tax rate increase with this bond election because the bond is replacing other bonds that have matured.

The bond will cover the $1 million the district was asked to pay to support an $8 million Eastern New Mexico University football stadium but Superintendent Johnnie Cain said the money will be paid in installments.

The athletic programs at Portales High School would use the stadium.

Priorities listed in the school district’s master plan include safety upgrades, which may cost as much as $750,000, according to Cain.

The board also approved RBC as its financial advisor for the next few bond elections.

At Monday night’s meeting, the board also passed a resolution of general concern in regard to the Public Education Department’s initiatives, which are expected to be implemented by the school district.

The resolution voiced the district’s desire to maintain control of the district and to meet the needs of those initiatives the way the board sees fit.

“Let the local school board have authority and discretion of these things,” Cain said.

 

 

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