FUNDS FROM BOND SALE ARE INVESTED
Arrangements have been made for investing the funds raised through the recent bond sale.
Requests for investment proposals were sent out to financial institutions in Saline County. The proposals were due at 11:00 a.m. on Monday, June 25. Proposals from the Bennington State Bank and First Bank of Kansas were received. BSB proposed 2.31% and First Bank's proposal was for 1.71%.
The proposal from BSB was accepted. Mr. Steve Shogren, the District's Bond Advisor, stated that the BSB proposal was an excellent interest rate in the current re-investement market.
Based on the proposed draw schedule, it is estimated that the funds will yield an additional $153,000 in interest over the life of the investment.
USD 306 HAS HIGHLY SUCCESSFUL BOND SALE
The bonds recently approved by the patrons of USD 306 Southeast of Saline were sold at the Board of Education meeting on Monday night, June 11. The District had received an AA- bond rating from Standard and Poor which is an exceptional rating for a School District the size of Southeast.
Nine bids for the $5.84 million of bonds were received and all bids were below the estimated 3.5%. In fact, all nine were below 3%! The low bidder was Commerce Bank of Kansas City with a bid of an average 2.72% over the life of the 12 years of payback.
The lower interest rate means the USD 306 patrons will pay back $350,000 LESS interest over the 12 years and the estimated mill levy needed to pay off the bonds will go from the predicted 7.63 mills to 6.9 mills.
New 7-12 Principal
Dr. Paul Ogle is joining the SES staff as Jr./Sr. High School Principal for the 2018-19 school year. Dr. Ogle has 22 years of professional educational experience with four as an administrator.
He joins SES from Riverbend International School in Eastern Kansas, where he was 8-12 Principal, as well as Superintendent, teacher, coach, etc. Earning his bachelor’s degree from Missouri Southern State University in 1990, his master’s from Fort Hays State University in 2000, and his doctorate from Baker University in 2015, Dr. Ogle has taught in colleges and high schools with as few as 52 students at Riverbend and as large as Dodge City High School with 1,950 students.
Dr. Ogle has been married since 1988 to Teresa, who is a secretary. They have five children including one who will be attending SES and three grandchildren.
WELCOME, Dr. Ogle!