Hancock school board begins process of issuing bonds for levy
NEW CUMBERLAND — Following approval from voters in November, the Hancock County Board of Education is moving forward in the process to issue bonds to fund a series of security and other improvements in each of the district’s facilities.
The school board, during Monday’s meeting, approved a resolution authorizing the issuance of bonds with a principal amount not to exceed $10,650,000, as well as determining the principal amounts and maturities of each bond, approving the form of the bonds and adopting post-issuance tax compliance procedures and continuing disclosure compliance procedures.
“It’s standard routine,” explained Superintendent Dan Enich.
During the Nov. 5 elections, Hancock County voters approved the new school bond levy by a margin of 6,938 votes in favor of the levy and 5,299 votes against, or 56.7 percent, according to final tallies provided through the West Virginia Secretary of State’s Office. Under state law, such bond levies require a simple majority approval for passage.
Tom Pearcy, legal counsel with Bowles Rice who has been advising the school board on the bond levy, noted the resolution is one of the steps needed in the chain of events.
“This resolution is the next step in the process,” Pearcy, participating in the meeting by telephone, said.
Plans call for a maximum term of 10 ½ years for the levy, with Pearcy noting plans are to have a deadline of June 1, 2035.
“These will be competitively bid,” Pearcy said, explaining an electronic bidding process will be used with an effort to locate bonds offering the best rates for the district. The bonds would be paid off through tax collections in the county.
Under the levy call, taxes will be collected at a rate of 3.82 cents per $100 of assessed value on Class I property; 7.64 cents per $100 on Class II property; and 15.28 cents per $100 on Class III and Class IV properties. School officials anticipated the cost to the average taxpayer of $3.83 per month, or $46 per year.
Oak Glen High will receive $2,096,728 for gymnasium and theater improvements, visitor identification systems, security vestibule upgrades, security camera installations, weapons detection systems, cell phone boosters, lunch table replacements, and upgrades to paving and parking lots, HVAC systems, elevator systems, signage, a storage building and fire alarms.
Weir High School will receive $2,150,352 toward gymnasium and theater improvements, visitor ID systems, security camera installations, weapons detection systems, cell phone boosters, lunch table replacements and other improvements to the paving and parking lots, HVAC, roof and skylights, signage, storage building, fencing, guardrails and fire alarm systems.
The John D. Rockefeller IV Career Center will receive $1,296,422 for visitor ID systems, security camera installations, weapons detection systems, security vestibule upgrades, security gates, cell phone boosters, improvements to paving and parking lots, elevator, signage, storage building and fire alarm systems.
Oak Glen Middle will receive $1,633,011 for gymnasium upgrades, security cameras, visitor ID systems, weapons detection systems, security vestibule upgrade, the pyrite remediation project at the school, a cell phone booster, lunch table replacements, paving and parking lots, HVAC, storage building and signage.
Weir Middle School will receive $1,173,417 toward gymnasium improvements, theater improvements, security cameras, visitor ID systems, weapons detection systems, cell phone boosters, lunch table replacements, paving and parking lots, HVAC, signage and fire alarms.
A.T. Allison Elementary will receive $530,220 for a new play yard, paving and parking improvements, security cameras, visitor ID systems, weapons detection system, cell phone booster, storage building and lunch table replacements.
New Manchester Elementary will receive $500,821 for a play yard, paving and parking lot improvements, security cameras, visitor ID systems, weapons detection systems, cell phone booster and lunch table replacements.
Weirton Elementary will receive $664,135 for a play yard, an additional access road, paving and parking lot improvements, visitor ID systems, weapons detection systems, security cameras, cell phone booster and lunch table replacements.
The Transportation and Maintenance Department will receive $444,894 for a new salt shed, security cameras and paving.