Sale of Le Grand’s Measure N bonds to begin
07/04/2014 12:01 AM
07/05/2014 11:23 PM
With narrow passage of Measure N at the polls last month, the Le Grand Union High School District is proceeding with the first part of its $4.2 million bond measure.
Superintendent Donna Alley said the bond passed June 3 with eight or nine votes to spare, 401-316, gaining 55.93 percent of the vote. The measure needed 55 percent for approval.
Alley said district representatives will be meeting with bond financiers next week in San Francisco and hope to sell about half of the bond, or $2.1 million. Once a rating is obtained, they will be able to sell the bond.
The first projects will be stadium renovations, followed by bleachers in the gymnasium, according to Alley.
Trustee Jim Tesone said the close vote was indicative of feelings in the community. Residents knew things had to be done but questioned the total bond amount.
Tesone said the board is trying to be frugal in spending the bond funds. He said bond issues are the most democratic way to fund improvements.
Alley and Tesone said the district is forming the requisite bond oversight committee and seeking volunteers. Tesone said the committee will have a cross-section of community residents, including people who voted against the bond.
The bond oversight committee will have seven members. The panel must meet at least once a year. It will be comprised of businessmen, at least one senior citizen, parents, and at-large members, Alley said.
In other business, trustees at their June 25 meeting approved Alley’s $126,313 annual salary for the 2014-15 school year, representing a 1.5 percent raise.
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