H-BC sets preliminary levy

Hills-Beaver Creek School Board members took action at their Monday meeting to set the district’s preliminary levy at $1.462 million for taxes payable in 2020.
It amounts to an increase of 3.61 percent over the current levy, but by statute, the board can revise the levy downward (not up) between now and the end of 2019.
“With the sale of the bonds — refunding of the bonds — this will be adjusted down,” Superintendent Todd Holthaus said.
The exact decrease amount will not be known until after Monday’s bond sale.
Last month, board members agreed to refinance the district’s original 25-year building bond of $8.325 million. The district pays about $750,000 each year on that debt.
Refinancing at a lower interest rate for a new 16-year bond is estimated to save the district about $100,000 annually.
Results of the Sept. 23 bond sale will be reviewed at a special board meeting scheduled for 7 p.m. Sept. 30.
Board members also set 7 p.m. Dec. 9, for the district Truth and Taxation hearing. At the hearing, the public may ask questions about the district budget for 2020.
After the hearing, the board will adopt the final levy, which must be certified by Dec. 28.
 
In other business, the board:
•approved Oct. 14, Columbus/Indigenous Peoples Day as a non-school holiday, allowing the school board to meet that night.
•declared the high school kitchen steamer as excess district property and directed Holthaus to place the item for sale.
•hired Amanda Roze-boom of Hills out of 20 applicants as the district business manager. She will begin Oct. 7. Current business manager Glenda Kuehl will retire at the end of October.
•approved the salary lane change for industrial arts teacher Chris Louwagie to a Master’s Degree level.
•set the next regular board meeting for Oct. 14.