School board issues $1.3 million bond for heat pumps [UPDATED]Published 9:33am Tuesday, April 9, 2013 Updated 11:37am Tuesday, April 9, 2013
The school board passed General Obligation Capital Facilities Bonds for the replacement of heat pump systems at Adams and McKinley. The bonds will also go towards the relocation of offices at Adams and McKinley school facilities for security reasons and the replacement of electrical transformers and switches.
The bonds would be issued in the total aggregate principal amount not to exceed $1,350,000 and mature within 10 years of the date of issuance, according to the resolution.
The bond will be authorized after approval of the Commissioner of Education, unless a petition calling for a referendum is signed by 15 percent of voters in the district.