The Atlantic School Board met during a regular session Wednesday evening. Superintendent Mike Amstein says the Board heard from Travis Squires from Piper Jaffray, with regard to sales tax bond refinancing. Amstein says Squires proposed two options for refinancing the District’s Revenue Bonds, which are basically paid through the sales tax. One was the standard type of refinancing, which would save the District about $175,000. The other option was through Private Sale.

Squires told the Board a lot more school districts are taking advantage of that option. Amstein said based on calculations of current market rates, the district could save more than $341,000, and cut a year off of the bond payments. Amstein says the Board also discussed an Early Retirement plan. He told the Board he wasn’t optimistic about any increase next year in State Supplemental Aid, and that one of the major ways to cuts costs, is by offering an early retirement incentive.

He says they’re considering offering the same package as last year: $25,000 over three-years, paid through a third-party vendor to alleviate the tax liability for those who participate. The offer would be limited to 10, or no more than 12 teachers. The matter will be discussed further at the Board’s Work Session, later this month. Amstein says several teachers have already contacted him expressing interest. The Board Attorney suggested they adopt a Resolution stating the option would not be considered again for another three-years, if they recommend the package this year.

And, the Atlantic School Board followed-up on a previous work session, whereby talks were held about a facilities study, as it relates to the District’s instructional and athletic facilities. During their meeting Wednesday evening, the Board determined it wanted to proceed with acquiring RFP’s (Requests for Proposals), specifically with regard to the athletic facilities. He says it doesn’t commit the Board to anything. It simply gives them an idea of what a proposed study might entail, as well as the costs.

The outdoor athletic facilities being considered in the study would include the Trojan Bowl, soccer field, track and baseball/softball fields, and possibly the practice facilities.