The Daily Item, Sunbury, PA


December 11, 2013

Lewisburg school board to hear bond, debt presentation

LEWISBURG — LEWISBURG — A municipal financing firm will outline bond pricing, debt management and other financial issues related to the proposed high school project during a specially scheduled Lewisburg school board meeting on Wednesday.

The financial discussion is one of about five agenda items for the public meeting, set to start at 8 p.m. in the large-group instruction room at the Donald H. Eichhorn Middle School, Superintendent Mark DiRocco said. A vote on a new business manager also may be taken during the meeting.

The main appearance, however, will be PFM Financial Advising Services, of Harrisburg, a company that specifically deals in financing school projects. DiRocco said this firm was among about four recommended by other school districts with recently financed projects.

The school board asked DiRocco to vet several firms and financial advising companies, and he feels most comfortable bringing in PFM for a presentation, he said.

Among topics PFM representatives will touch on are bond counsels, or law firms that ensure all legal steps are followed in issuing a bond, as well as interested bond underwriters and available options “to make the best choices for the high school project’s financing,” DiRocco said. PFM also will advise on whether to float a traditional bond or get bank-qualified loans for the project.

DiRocco said the school district likely is looking at a 25-year bond, “but we could look at any number of years that are cost effective. If it’s going to somehow benefit the district, we can stretch it out, but right now, most school districts are going with 25-year bonds.”

There is no “hard and fast estimate” for the high school project cost yet, DiRocco said, but he expects to have more accurate, updated numbers in January or February. Officials are working under a current estimate of about $31.1 million.

Interest rates at the moment hover between 4.4 percent and 4.8 percent, DiRocco said, a historic low. “We would like to move no later than March to secure an interest rate,” he said. “You never know with interest rates; most economists seem to think rates will rise. To me, this is a good time to issue a bond.”

An archaeological study on the high school site still is under way, he said, hampered by recent weather. DiRocco said he’s hopeful the study will finish this week.

Text Only
  • 28-mile cross walk steps off in Northumberland

    SUNBURY — Two “cross walks” this morning, including a 28-mile trek from Northumberland to Beaver Springs, are among the highlights of Easter activities and services in the Valley.

    April 18, 2014

  • rsstrike18a.jpg Picketing begins at 4 Danville schools

    [LAST UPDATED: 2:38 A.M., 4/18/14]

    DANVILLE — It started like any other school day during the year, with teachers up early and arriving at school at 7:30 in the morning.

    April 18, 2014 1 Photo

  • Line Mountain board, teachers to talk Tuesday

    MANDATA — Line Mountain school board President Troy Laudenslager is far more optimistic this week than he has been as the board and the Line Mountain Education Association head into their first contract negotiation session in three months.

    April 18, 2014

  • Good Morning Central Susquehanna Valley

    Today is Good Friday, April 18, the 108th day of 2014. There are 257 days left in the year. On April 18, 1934, the first laundromat (called a “Washateria”) was opened by John F. Cantrell in Fort Worth, Texas; four electric washing machines were rented to members of the public on an hourly basis.

    April 18, 2014

  • Injured bicyclist can't believe car didn't stop

    SUNBURY — Brandon Reigle has one question for the driver and passengers who left him in the middle of the road after hitting the bicyclist with a car Wednesday: Why?

    April 17, 2014

  • Petitions target 'toxic few' on Midd-West board

    MIDDLEBURG — More than 400 names have been gathered on two petitions to remove a pair of Midd-West school directors after some members of the public claimed the district has been in disarray for quite some time.

    April 17, 2014

  • crash18.jpg Snyder County collision injures driver, kills two horses

    PORT TREVORTON — A car struck two horses on a rural road in Snyder County Thursday afternoon, injuring the driver and resulting in the death of the horses.

    April 17, 2014 1 Photo

  • Strike17.jpg Danville teachers hit picket lines

    DANVILLE - It started like any other school day during the year, with teachers up early and arriving at school at 7:30 in the morning.

    April 17, 2014 1 Photo

  • Snook suspension now a mystery

    MIDDLEBURG — Acting Midd-West Superintendent Daphne Snook is confused about what the school board is alleging she did that led to her suspension without pay, saying she hasn’t received anything in writing. “Nothing I have been told by the board in any way makes me believe that I violated district policy or the law,” Snook said by email Wednesday.

    April 17, 2014

  • Danville teacher strike starts today

    DANVILLE — Nearly four hours of negotiations could not prevent the first teacher strike at Danville in decades.

    April 17, 2014

The Daily Marquee

Are you among those who will be completing and mailing your tax forms today?

No - Already Filed
     View Results
Photo Galleries
The Valley


Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.