Commissioners: Use '03 bond to rebuild Eastern
County commissioners want the school board to use money not yet spent on 2003 bond projects to help pay for rebuilding Eastern, which a fire destroyed in November 2006.
The school board is asking commissioners to approve certificates of participation, a kind of loan that doesn't need voter approval as a bond does and which typically carries a higher interest rate. The loan, for $53 million, would cover the cost of rebuilding the school and would be paid back in part by insurance money. (The district has already received $8 million in insurance money which is being used to prepare the site for both the temporary village of classrooms that will be used until the new school is built and the replacement school.)
But the insurance settlement hasn't been reached and commissioners want to know that number before proceeding with a loan.
What extra bond money, you say? Several projects have yet to be completed from the 2003 bond. In all, there's about $31 million that has not been spent. Projects that could be affected:
Gateway Education Center West, Pleasant Garden Elementary, Union Hill Elementary, Florence Elementary, Southern High, Madison Elementary, Morehead Elementary, Peck Elementary and Peeler Elementary, according to a letter that Superintendent Terry Grier sent to commissioners Chairman Paul Gibson.
Grier also notes in that letter the previous concerns raised about using money from the 2003 bond for other projects. When construction costs went up, three projects were dropped from the '03 bond list: Ragsdale, Jamestown Middle and Guilford Middle. School officials have taken heat for using some of the bond money intended for those projects on work not on the list and also for not completing those projects as promised.
Commissioners say the projects that would be nixed could go on the next bond, which the school board is discussing now for the Nov. 6 general election.
What do you think? Should certificates of participation be used to help rebuild Eastern or should current bond projects be halted?
Read more in tomorrow's News & Record.
Comments (20)
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The BOE looks bad on this one. Eastern is an emergency, it should step to the front of the line. The certificates of participation carry a premium interest rate over General Obligation bonds. Pleasant Garden, Gateway West, etc. can wait a few months. It would hurt nothing. How the BOE can say that promises to people that have a school should take priority over students without a school boggles the mind. The commissioners should do what they should not have to -- tell the BOE to use money on hand for Eastern.
Posted on April 20, 2007 1:12 PM
As Terry Grier said before about projects listed on the bond, "we never promised we'd do all of them". I guess promises and obligations don't mean much to these people. That's why they won't get this upcoming school bond passed. No trust = no bonds.
Posted on April 20, 2007 4:03 PM
There's enough fat in the budget to rebuild Eastern over the next two years.
I don't see how the new bonds are happening this year either.
I can't wait to go to the community forums on these bonds.
Posted on April 20, 2007 7:03 PM
If you house was burned down why would you be looking for a loan to rebuild it?
I just dont understand it.
Money grows on trees for this Board of Education.
Posted on April 21, 2007 9:54 AM
Is it just me, or has anyone else noted our favorite poster "The Real Truth", who's rants about the "rich privileged spoiled brats" in High Point has kind of disappeared, since Monday.
Naw,,,couldn't be.
Posted on April 21, 2007 12:15 PM
Scary,
It's not just you. Guess she can't handle the real truth.
Posted on April 21, 2007 11:19 PM
A Whiner is: "A nagging upset complainer. A spoiled person who cries when he doesn't get his/her way".
Scary and On Break. This is my definition of you guys.
Pointless, it’s all pointless and you just can’t see it. You argue against Real Truth then she or he disappears and then you invite this person back.
Give us all a break and disappear with Real Truth will you!
Posted on April 22, 2007 7:43 PM
Jennifer, Morgan:
Can you give us a status of the Academy at Smith? It seems that the facility was originally supposed to be operational January 2007. Then it seems I remember that there was a delay. What's the latest?
Posted on April 23, 2007 8:30 AM
Numbersgame,
The latest we had on Smith was in February and that was the earliest the academy will be ready is July.
Posted on April 23, 2007 9:58 AM
Scary,
I haven't gone anywhere... sorry to spoil your week. I don't intend to let you the self absorbed, childish, racists go unchallenged. I think I was affected by the tragedy at VA Tech and don't feel like mixing it up.
Stormy, GateCity Keeper,
Are you guys still going to fight the bond? I thought once you got Southwest segregated you would go away?
The Real Truth
Posted on April 23, 2007 10:31 AM
It is a shame that the "tragedy" that occurred at
Eastern is caught up in a dog and pony show.
The Board of Education and Board of Commissioners
have had 6 months to determine the best means for
financing the re-building of Eastern.
If we had strong leadership for our "entire" community, this would have been decided months ago.
Posted on April 23, 2007 12:11 PM
R.T.,
The answer is "yes". Finding reason in districting in High Point has nothing to do with school bonds and how Terry Grier and this board have mishandled taxpayer funds. People in Greensboro and the county are starting to awake to the mismanagement, even the county comissioners. It doesn't take $80-100 million to build a serviceable school. Forsyth and Charlotte districts have shown that. I thought that it was you that was going away, like Texas.
Posted on April 23, 2007 12:19 PM
Ahh Stormy, don't you know, the internet works in Texas, and everywhere else in the industrialized world!
The Real Truth!
Posted on April 23, 2007 1:03 PM
Alan Duncan voted against COPS. He saw the problems. Most people thought the Insurance money would pay a large portion of the costs. As I understand it, the BOE has not submitted a claim for the true loss. The 8 million is a partial payment and more will not be forthcoming until the BOE submits a claim. When we have a great tragedy like this, we all have to take a hit. It is wrong to insist that the County Commissioners make me whole again. Most people think the BOE is dragging their feet on the claim so they can have extra money when its paid. The thinking on this is flawed. The CC and the BOE should work together and come up with a common sense solution. COPS cost more. Why not defer current projects that have not been started? Remember Alan Duncan voted "No" for COPS.
Posted on April 23, 2007 1:24 PM
Joe,
My understanding is the district has submitted a statement of loss on the building itself and is nearing a settlement; however the district must submit statements of loss on all facets of the school, including equipment, furniture, etc., which has not occurred yet.
Posted on April 23, 2007 3:20 PM
Dr. Grier should know how to handle these insurance claims by now.
Morgan, is this his 4th or 5th fire since McDowell County?
...and for the record, I like to watch TRT and the other posters mix it up. CAT FIGHT!!
Posted on April 23, 2007 4:30 PM
Real Truth, the answer is YES, THE BONDS MUST BE DEFEATED as long as Kearns, Hayes, Childs, etc. are still on the School Board.
The totally inept school administration is unable to manage any additional dollars.
Posted on April 23, 2007 6:06 PM
Gosh I thought RT was just too busy packing for Austin.
I hate to burst your bubble RT but SWH was not and will not be segregated. This was just some PR propaganda started by certain factors for political purposes.
As for the bonds many of us will keep you guessing. You will know when the time comes.
Posted on April 23, 2007 10:33 PM
We have something in common with Joe, Vicky, Bernita, EM. The bond can be defeated.
Posted on April 24, 2007 7:19 AM
"I thought you would go away" The Real Truth
That will NEVER happen. There's too much work to do.
Posted on April 24, 2007 7:25 AM