Bond refunding could save Wadena Deer Creek district nearly $500,000
District 2155 is looking at a saving of $474,223 over the next 10 years by reobligating $4,495,000 worth of general refunding bonds.
The school board approved a motion to proceed with the reobligating proposal at their February meeting Monday.
The true interest rate is 2.4460.
The process consists of refunding bonds and then going with the lower interest rate.
"Our others are coming due and this is the first point at which we can actually refund them," WDC superintendent Virginia Dahlstrom said.
At an earlier meeting, the board heard that the savings would amount to $394,000.
Dahlstrom also urged the board to take action on a boiler problem at the Deer Creek facility, which is owned by District 2155, but leased by Freshwater Education District. The building has two boilers but only one has been in use. The other has been a "stand-by" boiler. The boiler in use is leaking and re-tubing it this summer would cost the district $15,400. Replacing one tube in the stand-by boiler would cost an additional $2,850. Bob Lund Sr., a custodian at the Deer Creek facility, pointed out that the repairs will necessitate the abating of any asbestos and will save the district approximately $2,500.
A golf co-op between Wadena-Deer Creek and New York Mills was approved beginning this spring. New York Mills golfers will be joined WDC golfers at the Whitetail Run golf course.
The board approved the creation of a year-round recreation director position. The district is interested in expanding community education opportunities throughout the year for residents in all three of the districts communities: Wadena, Deer Creek and Bluffton.
"We did meet with the city and they have in theory agreed that they would take over the pool and we would be able to take over the rest of summer rec but we would like to expand it into year-around rec. Especially your elementary and your junior high students do need some extra activities in there after school," said food service and district community education director Sandie Rentz. "We're really looking at expanding community ed quite a bit."