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Board approves $4.1 million bonds

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news Park Rapids, 56470
Park Rapids Minnesota PO Box 111 56470

The Park Rapids Area School Board has approved the sale of $4,155,000 in General Obligation Aid Anticipation Certificates in order to meet current expenses to cover a cash flow deficit.


The cash flow deficit comes from a 60-40 state funding shift to K-12 schools. Districts will receive 60 percent of this year's funding with a "promise" of 40 percent the following year.

The school board approved the low bid in the bond sale from Piper Jaffray & Co., of Minneapolis. The interest rate is .459 percent, which will result in a savings on interest of $4,423.55 from last year's interest rate of .5654 percent.

The net interest cost will be $19,071.45.

In other business, the board:

n Heard a presentation by Jay Eystad to construct bathrooms and a concession stand at the high school baseball fields.

The estimated cost of construction is $29,000 and will be paid for through fundraising efforts.

"They will be similar to what's at the girls softball field but we'll have a little more of an awning," Eystad said.

Activities director John Schumacher said the plan looked good and he will work with Eystad on the project.

n Approved the resignation of Jim Weinzierl as boys golf coach, with regret and thanks for 16 years of coaching.

n Approved the resignation of Bill Hodge as a bus driver, with regret and thanks for three years of service to students.

n Approved the resignation of Esther Johnsrud, paraprofessional, with regret and thanks for 17 years of dedication to students.

n Approved several new hires, including Chuck Alberg as a playground supervisor at Century School, Jamie L. Simon Linkowitz as a .5 ESL instructor, Jane Robinson as a kindergarten teacher, Zach Holsman as a junior high football coach and Tony Olson as a bus driver for Route 76.

Park Rapids Enterprise (218) 732-8757 customer support
Anna Erickson is editor of the Wadena Pioneer Journal.
(218) 631-2561