DEXTER — A $15 million bond issued approved Tuesday by voters in the Dexter School District will help pay for what are ultimately expected to be $19.7 million in improvements and upgrades.
The Dexter R-XI Board of Education met Thursday to discuss the project, which includes a list of project alternates totaling just over $900,000.
Base projects total nearly $18.8 million and include classroom additions, renovations and roof repairs districtwide.
As the district continued to review its needs, additional projects were identified, Superintendent C.A. Counts said of the addition of the alternates.
The alternates are: high school moisture issue, $265,000; roofing for section 1 of the high school gym and vo-tech, $154,700; javelin runway, $55,000; triple jump/long jump separate runways and pits, $43,750; pole vault and high jump padding, $37,500; Southwest Elementary drive improvement, $60,000; athletic facility allowance/soil stabilization, fencing and landscaping, $110,000; locker room square footage increase for lobby, extra storage and tennis, $85,000; and auditorium seating, $92,000.
The district expects to save almost $88,700 through energy savings improvements annually, along with annual maintenance savings of $29,500, because of the work.
It also expects to receive approximately $15.9 million in proceeds through the issuance of bonds approved by voters. Two separate issuances would be repaid over 20 and 16 years through an extension of the current debt service levy.
The remaining $3.9 million would be paid for through a low-interest-rate lease-purchase loan, with payments made from district reserves. The loan would be for 15 years. Payments will be $340,000 a year, under the structure discussed by the board Thursday.
A public meeting will be held April 18 during the regular board meeting to finalize the lease purchase agreement. The board meeting starts at 6 p.m.
Construction design and completion will be overseen by the CTS Group, which Dexter entered a contract with Thursday. CTS receives 8 percent of the total $19.7 million project costs. CTS will also hire the contractors who will complete the projects, Counts said.
HEALTH INSURANCE
Dexter school employees will receive health insurance from the Missouri Educators Unified Health Plan for another year, following action by the board.
Deductibles are expected to increase from a high of $5,000 currently to a high of $6,550 under the new plan options, though.
The board will make a decision at a later date regarding how much the district will contribute to premium costs, said Counts. The district currently pays $481 per employee, per month.
In March, the board discussed finding another carrier out of concern that costs could increase by 13.5 percent in the next plan year, plus possible additional assessments if the self-funded program experienced problems.
After looking at other options, and based on the overall health of the district at this time, Counts said, it was decided to continue with the current plan.