Argenta-Oreana Community Unit School District 1 Board of Education met Feb. 16.
Here is the minutes provided by the board:
The Board of Education of Community Unit School District Number 1, Macon and DeWitt Counties, Illinois, (Argenta-Oreana Community Unit School District No. 1) convened at 6:00 p.m. in the Argenta Oreana Middle School/High School Library at 500 North Main Street, Argenta, Illinois pursuant to notice of special meeting having been given in due form of law with Todd Armstrong, President, in the Chair, and with a legal quorum as follows: Maria Lightner, Jeff Schroetlin, Heather McConnell-Smith , Lori Sprague, Cory White, and Todd Armstrong. Also present: Damian Jones, Superintendent
Mr. Jones provided an overview of agenda items #6, #7, and #8. Heartland Bank & Trust purchased the $1,640,000 Working Cash Bond. The interest rate was 2.34%. The closing date is March 3, 2021. That is the date the district will receive the money. The funds will go into the Working Cash Fund. In March, $1,040,000 will be abated from the Working Cash Fund to the Operations & Maintenance (O & M) Fund. There will be no tax rate increase due to this issue or the previous Health Life Safety Bond.
Cory White/Maria Lightner, second, made a motion to abate $600,000 from the Working Cash Fund to the O & M Fund. The roll vote: Maria Lightner-yes; Jeff Schroetlin-yes; Heather McConnell-Smith-yes; Lori Sprague-yes; Cori White-yes; and Todd Armstrong-yes.
Heather McConnell-Smith/Lori Sprague, second, made a motion to approve a Resolution Providing for the Issue of Taxable General Obligation Refunding School Bonds, Series 2021B, and General Obligation School Bonds, Series 2021C, of the District, for the Purpose of Refunding Certain Outstanding Bonds and Increasing the Working Cash Fund of the District, Providing for the Levy of a Direct Annual Tax Sufficient to Pay the Principal and Interest on Said Bonds, and Authorizing the Sale of Said Bonds to the Purchaser Thereof. The roll vote: Maria Lightner-yes; Jeff Schroetlin-yes; Heather McConnell-Smith-yes; Lori Sprague-yes; Cori White-yes; and Todd Armstrong-yes.
Cory White/Maria Lightner, second, made a motion to approve a Resolution Authorizing and Directing the Execution of One or More Escrow Agreements in Connection with the Issue of Taxable General Obligation Refunding School Bonds, Series 2021B, of the District. The roll vote: Maria Lightner-yes; Jeff Schroetlin-yes; Heather McConnell Smith-yes; Lori Sprague-yes; Cori White-yes; and Todd Armstrong-yes.
Lori Sprague/Heather McConnell-Smith, second, made a motion to adjourn at 6:04 p.m. The roll vote: Maria Lightner-yes; Jeff Schroetlin-yes; Heather McConnell-Smith-yes; Lori Sprague-yes; Cori White-yes; and Todd Armstrong-yes.
https://core-docs.s3.amazonaws.com/documents/asset/uploaded_file/1185697/Feb_21_Sp_Bd_Minutes.pdf
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