Pierce City R-6 board members approved the sale of $3.1 million in general obligation bonds through the underwriting services of L.J. Hart and Company, of St. Louis, at their May 25 meeting.
Larry Hart, of L.J. Hart, was in attendance to speak to board members concerning the sale of the bonds.
"The bonds are set to mature on March 2021 through March 1, 2031," Hart said. "A total of $1,570,00 term bonds were sold at a premium to produce additional funds in the amount of $80,509 for the project."
The school district is rated AA+ through Standard and Poor's Corporation, because the district has opted to participate in the state's direct deposit program.
Board members unanimously approved the general obligation bonds to finance the new construction projects.
The board accepted the OPAA! Food service agreement for the 2011-12 school year. District Superintendent Russ Moreland said the only complaint he had heard concerning the food products offered to students were about the biscuits.
Middle School Principal Gayla DeGraffenreid reported that students were eating better with the program in place.
Moreland also reported contacting a company to manufacture the lettering to attach to the storm shelter, which will designate the building as the Doug Weatherly Fieldhouse.
Moreland said measurements for the letters are scheduled to take place within a few days and the project should be completed in time to host dedication ceremonies prior to the first home football game of the 2011 season.
In other business, board members:
* Approved participation in the KidGuard Insurance program, which is required for athletes participating in sporting events.
* Approved the summer school calendar for June 2 through June 23. The 16 days of classes will provide an additional 120 hours of study for students.
* Approved an athletic cooperative agreement with St. Mary's Catholic School allowing seventh and eighth grade students to participate in middle school athletic programs.
* Approved a contract with Southwest Area Career Center in Monett to allow 15 of the district's students the opportunity to attend classes there.
* Approved the workers compensation con-tract through AmTrust Ins-urance, which will result in a savings to the district of approximately $450.
* Approved a new coaching salary plan for the 2011-2012 school year. The plan calls for eliminating nearly $6,800 in two-week extended contract stipends. The move will correct an out-of-balance pay schedule for coaches as explained by Moreland. The suspension of extended contract stipends will save the district approximately $3,000 for next year.