PRAIRIE GROVE — Departing Fayetteville School District athletic director Dick Johnson will not be taking a job with the Prairie Grove School District, Superintendent Randy Willison said Monday.
In response to a question after the Prairie Grove School Board meeting, Willison said Johnson had told him a couple of days ago that he had decided to pursue another opportunity.
Willison, who worked in Fayetteville before coming to Prairie Grove in 2008, had some discussions with Johnson earlier this semester on the possibility of coming to Prairie Grove after he leaves Fayetteville.
Johnson resigned from his post at the school district in July, but his resignation does not take effect until Sept. 30. The earliest he could work for another school district would be Oct. 1.
In other business, the school district will seek to refinance its 2003 bond issue that financed the construction of Prairie Grove High School in order to raise money for other potential projects.
Dan Lovelady, of Beardsley Finance, estimated that by refunding the bonds, the district could raise approximately $370,000 this year and $18,000 next year. That is money the district could use on building maintenance.
The current interest rate on that bond issue is 5.11 percent on a 30-year note that has 24 years remaining. He estimated the refunding could lower the interest rate to 4.3 percent based on current interest rates.
Lovelady said bond bids would be received in early October, and he would report back to the district on the offers received.
Voter approval of the refunding is not required because this type of refinancing does not extend the length of the bond note, Lovelady said.
"The school board can do this," he said.
"This is a pretty good opportunity to get a good chunk of money at once," Willison said.
The proceeds could be used for immediate needs or set aside for a special project. Later on, the board discussed a potential project the proceeds could help subsidize.
Architect Gary Jackson, of Hight-Jackson Associates, and Brett Kingrey, an academic facilities consultant that works for the district, presented information on a possible multipurpose facility idea.
The facility would be a combined gymnasium and performing arts building for the high school. Those facilities were not included when the school was first built.
At a previous meeting, the board asked Jackson to come up with a plan that would fit a budget of $10 million or less.
Jackson suggested a black box stage facility - a flexible space that could be used for performing arts - would be a good fit for the proposed budget.
Willison estimated the district would need a millage increase of one additional mill for every $2 million on the project. The Arkansas Department of Education, however, would probably provide some financial assistance for the project through its facilities partnership program, Kingrey said.
The state should fund at least 50 percent based on Prairie Grove's wealth index, which is a rating the state gives school districts based on their enrollment and property values.
Following some more discussion, the board decided it would hold a work session at some point in the future to further discuss the matter and work out some details.
The earliest the state will probably make a decision on whether to fund the project is 2011, Kingrey said.
News, Pages 1, 3 on 09/22/2009