NORWAY – It was a meeting of financial decisions Monday for the SAD 17 board at Guy E. Rowe Elementary School.

The board approved a bid for a tax anticipation note for the new Paris elementary school property; selected a financial firm for the lease/purchase of two school buses; and selected a firm to repair a leaky boiler at Oxford Hills Middle School.

The board approved obtaining a bond anticipation note from Oxford Bank on Monday for the school land purchase.

Five banks were asked to bid and two responded. Oxford Bank offered the lowest interest rate of 1.74 percent.

On Election Day, voters approved a warrant to appropriate $210,000 from the district’s undesignated fund balances to purchase the 16.2 acres of land on the corner of High Street and Hathaway Road.

The warrant also authorized the board of directors to issue bonds or notes to refund the undesignated fund balances.

Key Government Finances Inc. was chosen as the lowest bidder for the lease-purchase of two new Thomas buses. The firm’s 3.092 percent interest rate was 0.32 percent lower than the nearest of seven bidders.

The bid process was coordinated by the Maine Municipal Bond Bank.

The board accepted Facilities Director David Marshall’s recommendation of using Nason Mechanical Systems to repair four leaky sections of the boiler at the OHMS. The Nason bid of $5,262 was $908 less than the next of three bidders.

jsmedley@sunjournal.com

Copy the Story Link