Review and Comment on the School Construction Project Proposal of BHM Schools

DESCRIPTION OF PROPOSED SCHOOL CONSTRUCTION PROJECT

Buffalo-Hanover-Montrose Schools is proposing a bond referendum on November 4, 2014 to finance district-wide facility and site improvements.  The projects include additions, renovations, deferred maintenance and security upgrades.  The estimated dollar amount of all projects, including bond issuance costs, is $33,075,000.  The projects would be scheduled for completion in the 2015-2019 calendar years.

If the bond referendum is successful and bonds are sold, the debt service on the bonds will be eligible for debt service equalization under Minn. Stat. § 123B.53, Subd. 3, if the bond schedule is approved.  The amount of debt service equalization aid, if any, the district receives is determined annually and is dependent upon property wealth, student population, and other statutory requirements.  The school board believes that these projects are in the best interest of the district.

REVIEW AND COMMENT STATEMENT

Based upon the department's analysis of the school district's required documentation and other pertinent information from sources of the Minnesota Department of Education, the Commissioner of Education provides a positive review and comment.

ADDITIONAL INFORMATION IS AVAILABLE

Persons desiring additional information regarding this proposal should contact the school district superintendent's office.


Dr. Brenda Cassellius
Commissioner
MN Department of Education
September 17, 2014