November 13, 2023 at 6:00 PM - Board of Education Regular Meeting

1. The Board of Education reserves the right to enter into Closed/Executive Session for 1) the protection of public interest or 2) the prevention of needless injury to the reputation of an individual, and the individual has not requested a public meeting. When making a motion to enter into Closed/Executive Session, the member making such a request should be as specific as possible keeping the previously listed stipulation in consideration. 
2. If the Board is in agreement, a motion maybe to enter into Closed/Executive Session to 1) discuss a personnel matter, or 2) for the prevention of needless injury to the reputation of the individual, or 3) to discuss litigation and for the protection of the public interest.
3. Action concerning matters discussed in Closed/Executive Session will be acted upon in open session

Welcome to the Dundy County Stratton Public Schools Board of Education Meeting.  The Board welcomes citizens to attend board meetings to become acquainted with the programs and operations of the district.  Members of the public are also encouraged to share their ideas and opinions with the Board during the agenda item labeled “Public Items”.  Comments or questions from the audience at any other time during the meeting except for the agenda item “Public Items” will out of necessity be declared out of order.

The Nebraska Open Meetings Act prevents the board from speaking to a matter that is not on the agenda.  Please understand that the board may be unable to address your issue during the meeting.  It is not permissible for the board to comment on items not listed for the protection of the public’s right to know and participate in the discussion of items that do come before the board and stated appropriately in the meeting agenda.  

During this agenda item “Public Items” we ask that you abide by the following rules:

Public Comment Protocol and Procedures

1. Anyone wishing to speak to the board on specific agenda items or on other topics relevant to board business must complete a Public Comment Request Card and submit it to the Board President prior to the opening of the meeting.   The public will only be recognized and their comments heard at Item “Public Items” on the board agenda.  The total time allotted for the public comment will not exceed thirty minutes and each member of the public will be allotted not more than five minutes to address the Board.  If a group wishes to speak, please designate one spokesperson for the group.
   
   
2. Please state your name and the topic you are addressing before you begin.  
   
   
3. Speakers are asked to direct their questions and comments to the chair.  A member of the Board of Education or the Superintendent may direct clarifying questions to the chair, but the board will not under any circumstance enter into a debate with any the member of the public.
   
   
4. Speakers may offer objective criticism of district operations and programs, but the Board would encourage members of the public to address complaints concerning individual district personnel through the proper chain of command.  The chair may direct the member of the public to the appropriate means to address concerns brought before the Board; however, the board will not respond with action but will take comments under advisement and direct the comments to the appropriate staff member to address outside of the board meeting.
   
   
5. Please remember that is a public meeting for the conduct of business of the Dundy County Stratton Public School District. Offensive language, personal attacks and hostile conduct will not be tolerated. You should further be advised that there is no legal protection for any comments that are made. 
   
   
6. As stated in NEB. REV. STAT. § 79-570 Class I, II, III, IV, or VI school district; president; meetings; maintenance of order.  

   If any district meeting of a Class I, II, III, IV, or VI school district any person conducts himself or herself in a disorderly manner and persists in such conduct after notice by the president or person presiding, the president or person presiding may order such person to withdraw from the meeting and, if the person refuses, may order any person or persons to take such person into custody until the meeting is adjourned.

7. As stated in NEB. REV. STAT. § 79-571 Class I, II, III, IV, or VI school district; meetings; disorderly conduct; penalty. 

Any person who refuses to withdraw from such meeting on being so ordered as provided in section 79-570 or who willfully disturbs such meeting shall be guilty of a Class V misdemeanor. 

• Dated Date = 3/15/2024
• 25 Year Bonds
• Par amount = $19,010,000
• Project Fund = $18,500,000
• Cost of Issuance = $505,250
• True Interest Cost (TIC) = 5.247%
• TOTAL Interest over the life of the bonds = $17,886,881
• TOTAL Debt Service over the life of the bonds = $36,896,881
• Required Special Building Fund Levy = 9.80 cents

• Dated Date = 3/15/2024
• 25 Year Bonds
• Par amount = $18,680,000
• Project Fund = $18,500,000
• Cost of Issuance = $334,070
• True Interest Cost (TIC) = 4.947%
• TOTAL Interest over the life of the bonds = $16,152,859
• TOTAL Debt Service over the life of the bonds = $34,832,859
• Required Special Building Fund Levy = 11.57 cents

• Cost of issuance is slightly higher.  The transactional fees for Interlocal Bonds are approximately 2.50%, whereas the Voted GO Bonds would be closer to 1.70%. 
• Total Interest over the life of the bonds is higher.  Interlocal Bonds would pay $1,734,022 MORE in interest expense
• Total Debt Service is higher.  This number is the best indicator for the side-by-side comparison, because this includes all interest expense and all fees.  The Interlocal model would cost the district $2,064,022 more.  

• Voted General Obligation Bonds = $34,832,859
• Interlocal Bonds = $36,896,881 - $9593,189 (26.0%) = $27,303,692

• On the Voted GO bonds they would pay 11.57 cents annually which = $115.70 and receive no tax rebate.
• On the Interlocal bonds they would pay 9.8 cents annually which = $98.00, but they would receive 26% of that back on their tax return.  So they would pay a NET of $72.52

• On the Voted GO bonds they would pay 11.57 cents annually on $500K valuation which = $578.50 and receive no rebate.
• On the Interlocal bonds they would pay 9.8 cents annually on $720K valuation which = $705.60, but they would receive 26% of that back on their tax return.  So they would pay a NET of $522.15