School Board to discuss money borrowing
The Bemidji School Board will consider recommendations to borrow $9 million to cover cash flow for the upcoming year.
The School Board will meet to discuss this and other issues at 6:30 p.m. Monday, July 20, in the Bemidji High School Media Center.
The recommendation to borrow comes from increases in the State Aid shift and property tax shift that will occur over the next two years
"This is a shift of a very large magnitude," said Chris Leinen, director of business services. "This amount is significantly above anything we've had to borrow in the last decade."
The board is expected to discuss appointed interest fees and money investments associated with the borrowed money.
The meeting will also include a Truth in Taxation sub-meeting which will open discussion on the proposed tax levy. To encourage public participation, the Truth in Taxation meeting has been added to the school board meeting agenda.
In other business:
A donation to the Bemidji High School soccer concession and press box building will be addressed. MJH Architectural Studios, Inc. has donated $2,740 to the design construction of the new building projected to cost $30,000 with donations.