FAIRMONT – The Fairmont School Board received good news on its bond ratings for a 10-year maintenance plan during its meeting on Tuesday.

Ehlers Representative Beth Downes said they received really good results for the $17.8 million in general obligation facilities maintenance bonds for the 10-year maintenance plan.

“We like to see at least three bidders on all of our bonds,” she said. “We actually had 13 bids this morning, which was a really great turnout. The low bid was 3.88 percent and we had figured in pre-sale in September, estimating it to be at 4.65% percent We’re almost 80 basis points below our pre-sale, which is really great to see.”

In addition, Downes said they had the underwriter submit a bid with a premium on it, which the underwriter will pay in order to get these bonds.

“Our par amount is $17.8 million,” she said. “You’re going to pay back principle and interest on that $17.8 million, but the underwriter is going to give you $18.2 million in proceeds to begin with, so you’re really getting more money back and then not paying as much.”

This funding is not tied to the referendum and is for long-term facilities maintenance.

“There is authority for the school board to do certain projects outside of voter approval,” Downes said. “Those are things for health and safety; the state deserves higher needs for the well-being of your students. A vast majority of this project is going to finance indoor air quality projects, those HVAC kinds of items. A small amount is going to go towards roofing projects.”

This funding will not go directly on top of existing debt. Smaller payments will be made on these new bonds until 2039, and when the currently existing debt is gone, payments will increase for these new bonds.

“That’s a nice benefit for your taxpayers,” Downes said. “We’re not putting all of this on top of what’s already existing.”

The school was also given a AA credit rating, which Downes said was also a good sign for the school and its strength.

“It shows that you have good management and stewardship of your finances,” she said. “Your fund balance drives this rating. You guys have a really strong fund balance, good management.”

Board Member Jen Harris made the motion to approve the sale of the aforementioned $17.8 million in bonds, with Board Member Dan Brookens seconding. The board approved the sale unanimously.

In other news:

— Superintendent Andy Traetow was a part of multiple area superintendent gatherings and discussions. With the Southern Plains Education Cooperative (SPEC), they discussed for 2.5 hours what SPEC staff can work on in terms of implementation planning for services, and at a Superintendent Association quarterly meeting discussion centered on upcoming legislative platforms, state funding, federal shutdown implications and the Paid Family and Medical Leave Act taking effect January 1.

— The school district hosted the Fairmont Area School’s Martin County leadership group for their education day. “We gave tours of our CTE spaces,” Traetow said. “Representatives from SPEC and our local parochial schools and home schools presented. We finished the afternoon learning about our college in the school’s programming.”

— Traetow said the homecoming football game had an attendee from Los Angeles who works as a grounds crew member at the LA Coliseum. “He happened to do an impromptu assessment of our facilities prior to [the game],” Traetow said. “He gave a huge vote of confidence to our buildings and grounds crew in the great work they do, keeping our facilities looking sharp. One of his comments was that there’s never going to be a need for our district to go to field turf on our football field because of the great care that it’s given.”