NORTH FAYETTE VALLEY COMMUNITY SCHOOL DISTRICT
BOARD OF EDUCATION
Minutes, Special Meeting of the North Fayette Valley Community School District Board of Education, Thursday, January 21, 2021 in the NFV PAC, 600 N Pine St, West Union, IA 52175
NFV Board of Education: Julie Ahrens (Teams), Stacy Cummings (Teams), Emily
Koch, Carolyn Roys (Teams), & Marc Rue. Eileen Schlawin & LaCreasha McNeese were absent. Student Members: Nathan Crooker. Kailee Ginger, Baylee Shrubb, & Madison Clausen were absent.
Others: Superintendent: Joe Griffith; Business Manager: Sue
Thoms; and others by Microsoft Teams
President Cummings called the Special Meeting of the NFV Board of Education to order at 6:06 p.m.
Motion to approve the agenda with the addition of approval of Contract for Engineering Services with Midwest Engineering Associates, Inc. Rue/Koch Motion Carried 5-0
The Board approved the engagement letter with Piper Sandler & Co for placement agent and underwriter for the proposed issuance of revenue bonds. Ahrens/Rue Motion Carried 5-0
The Board approved the engagement letter with Ahlers & Cooney, PC for bond counsel for the proposed issuance of revenue bonds. Rue/Roys Motion Carried 5-0
The Board approved the contract agreement for engineering services with Midwest Engineering Associates, Inc. for the proposed WUE project. Rue/Koch Motion Carried 5-0
The Board approved the following resolution fixing the date for a hearing on the proposed issuance of approximately $2,900,000 School Infrastructure Sales, Services and Use Tax Revenue Bonds. Rue/Koch Roll Call Vote: Ayes – Cummings, Ahrens, Roys, Koch, & Rue Nays – None Motion Carried 5-0
RESOLUTION FIXING THE DATE FOR A PUBLIC HEARING ON THE PROPOSED ISSUANCE OF APPROXIMATELY $2,900,000 SCHOOL INFRASTRUCTURE SALES, SERVICES AND USE TAX REVENUE BONDS
WHEREAS, the School District receives revenue from the State of Iowa Secure an Advanced Vision for Education Fund (“SAVE Revenue”) pursuant to Iowa Code Section 423F.2; and
WHEREAS, pursuant to Iowa Code Chapter 423F and an election duly held in accordance therewith on February 7, 2017 approving a revenue purpose statement (the “Revenue Purpose Statement”), the Board of Directors is currently entitled to spend SAVE Revenue for school infrastructure purposes; and
WHEREAS, the Board of Directors is in need of funds for the following school infrastructure projects: construct HVAC and related renovations and improvements; lighting improvements; and fire sprinkler system and alarm system improvements at West Union Elementary School, including costs of issuance and a debt service reserve fund if required by the purchaser; and
WHEREAS, the Board of Directors has deemed it necessary and advisable that the District issue School Infrastructure Sales, Services and Use Tax Revenue Bonds, which may be issued in one or more series over multiple fiscal years pursuant to Iowa Code Section 423F.2 and 423E.5, in the approximate amount of $2,900,000 for the purpose of providing funds to construct HVAC and related renovations and improvements; lighting improvements; and fire sprinkler system and alarm system improvements at West Union Elementary School, including costs of issuance and a debt service reserve fund if required by the purchaser. Any bond proceeds remaining after completion of this project will be used for other school infrastructure projects as authorized by the School District’s Revenue Purpose Statement; and
WHEREAS, before said Bonds may be issued, it is necessary to comply with the provisions of Iowa Code Section 423F.4, and to publish a notice of the time and place of the public hearing on the proposal to issue such Bonds; and
WHEREAS, notice of the time and place of a public hearing must be published not less than ten nor more than twenty days before the public hearing in a newspaper having general circulation in the District:
NOW, THEREFORE, it is resolved:
- A public hearing will be held in the North Fayette Valley PAC, 600 N. Pine Street, West Union, Iowa 52175, on February 8, 2021, at 6:00 P.M., on the proposal to issue approximately $2,900,000 School Infrastructure Sales, Services and Use Tax Revenue Bonds, which may be issued in one or more series over multiple fiscal years pursuant to Iowa Code Section 423F.2 and 423E.5, for the purpose of providing funds to construct HVAC and related renovations and improvements; lighting improvements; and fire sprinkler system and alarm system improvements at West Union Elementary School, including costs of issuance and a debt service reserve fund if required by the purchaser. Any bond proceeds remaining after completion of this project will be used for other school infrastructure projects as authorized by the School District’s Revenue Purpose Statement.
- The Secretary is authorized and directed to publish notice of this public hearing in a newspaper having general circulation in the School District. Such publication will be made not less than ten nor more than twenty days ahead of the hearing date, and be in substantially the following form:
NOTICE OF PUBLIC HEARING ON THE PROPOSED ISSUANCE OF APPROXIMATELY $2,900,000 SCHOOL INFRASTRUCTURE SALES, SERVICES AND USE TAX REVENUE BONDS
Notice is hereby given that the Board of Directors of the North Fayette Valley Community School District, in the Counties of Clayton and Fayette, State of Iowa, will hold a public hearing upon its proposed issuance of approximately $2,900,000 School Infrastructure Sales, Services and Use Tax Revenue Bonds, which may be issued in one or more series over multiple fiscal years, pursuant to Iowa Code Section 423F.2 and 423E.5, for the purpose of providing funds to construct HVAC and related renovations and improvements; lighting improvements; and fire sprinkler system and alarm system improvements at West Union Elementary School, including costs of issuance and a debt service reserve fund if required by the purchaser. Any bond proceeds remaining after completion of this project will be used for other school infrastructure projects as authorized by the School District’s Revenue Purpose Statement.
The hearing will be held in the North Fayette Valley PAC, 600 N. Pine Street, West Union, Iowa 52175, on February 8, 2021, at 6:00 P.M.
The Board adjourned the meeting at 6:20 pm. Rue/Koch Motion Carried 5-0
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Stacy Cummings, President Sue Thoms, Business Manager