School board accepts $9 million bond for building renovation | News, Sports, Jobs

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The Loyalsock Township School Board has authorized bond counsel to secure a bond in the amount of $9 million for funds used for capital construction projects.

Daniel Egly, district business manager, said the bond was needed to cover the full incremental cost of the planned high school, middle school and elementary school projects.

The plans are a new gymnasium at the high school, five classrooms and the cafeteria expansion at the high school-middle school complex and four classrooms and a kitchen expansion at the Donald E. Schick Elementary School, Egly said.

The district has already borrowed $9.9 million, he said.

Costs have increased for materials. The expected impact on taxpayers is $120,000 to $180,000 in the first three years. Building begins in elementary school around May 16, he said.

Some parts of high school-college projects should start after that.

The general contractors are ECI for high school and Lobar for primary.

Superintendent Gerald L. McLaughlin appreciated the board’s decision with interest rates as low as they are now. The bond and the loan will be repaid in 2039 as planned.

The board voted 7-0 for approval with Charles W. Edmonds and Valerie N. Komarnicki absent.



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