During the February meeting, the Laker board of education approved a bond refinancing/refunding resolution that’s set to benefit taxpayers in a big way — by saving them about $650,000.
Representatives from the Thrun Law Firm presented details on the refinancing, saying “it’s an opportunity to (do away with) old bonds at higher interest rates that ultimately results in lower millage rates for taxpayers.”
The refinancing will not have an effect on the district budget.
The terms on the bond are still to expire in 2025.
In other business, the board:
*Approved a resolution regarding following seven best practices, as recommended by the Michigan Department of Education. Lakers will receive $50 per pupil (which will total about $45,250) for these practices:
1. The district is the designated policy holder for medical benefit plan(s)
2. The district has obtained a competitive bid on non-instructional services (custodial/maintenance)
3. The district accepts applications for enrollment by non-resident applicants
4. The district offers online courses or blended learning opportunities to all eligible pupils, and publishes course syllabi
5. The district provides a link on the district’s home page to the URL for the MiSchoolData Portal, which will contain the required dashboard indicators. If certain data elements for our district are unavailable from state data collections, we agree to provide those data in the form and manner determined by MDE.
6. The district’s collective bargaining agreements do not include provisions contrary to prohibited subjects
7. The district implements a comprehensive guidance and counseling program
*Voted to increase the substitute teacher rate from $75 to $80 per day.
Representatives from the Thrun Law Firm presented details on the refinancing, saying “it’s an opportunity to (do away with) old bonds at higher interest rates that ultimately results in lower millage rates for taxpayers.”
The refinancing will not have an effect on the district budget.
The terms on the bond are still to expire in 2025.
In other business, the board:
*Approved a resolution regarding following seven best practices, as recommended by the Michigan Department of Education. Lakers will receive $50 per pupil (which will total about $45,250) for these practices:
1. The district is the designated policy holder for medical benefit plan(s)
2. The district has obtained a competitive bid on non-instructional services (custodial/maintenance)
3. The district accepts applications for enrollment by non-resident applicants
4. The district offers online courses or blended learning opportunities to all eligible pupils, and publishes course syllabi
5. The district provides a link on the district’s home page to the URL for the MiSchoolData Portal, which will contain the required dashboard indicators. If certain data elements for our district are unavailable from state data collections, we agree to provide those data in the form and manner determined by MDE.
6. The district’s collective bargaining agreements do not include provisions contrary to prohibited subjects
7. The district implements a comprehensive guidance and counseling program
*Voted to increase the substitute teacher rate from $75 to $80 per day.