/usr/web/www.marshallindependent.com/wp-content/themes/coreV2/single.php
×

Correcting the numbers

To the editor:

In a letter to the editor that was printed in the Marshall Independent on Feb. 1, Harold Dieken shared his perspective on rising taxes in Marshall.

With all due respect, Mr. Dieken’s letter contained inaccuracies. We value everyone’s opinion, but at the same time, we owe it to the Marshall community to provide accurate and up-to-date information.

Mr. Dieken stated that there is still $26,000,000 owed on the new high school that opened in 2005. That amount is not correct.

The current balance, as of Feb. 1, 2017, is $15,925,000, and will be paid off as of Feb. 1, 2024. Additionally, this balance is not only for the high school, but for all of the projects that were part of the 2003 referendum vote.

The bond referendum vote occurred on Feb. 18, 2003, and had two questions. The first was for $32,000,000 for building a high school, along with renovating the old high school to a middle school, and the renovation, remodeling, repair, upgrading, equipping and construction of improvements to all our sites and facilities.

The second question, contingent on the first one passing, was for $5,000,000 for acquisition and betterment of schools sites and facilities including a performance theatre and additional physical education facilities at the new high school. There was work done on all of the district’s buildings and sites.

The term for the original bonds was 21 years, and the original interest rate was 4.05 percent. These bonds were refinanced (refunded) in 2012 at an interest rate of 1.77percent, which is saving district taxpayers approximately $2,800,000 over a 10-year period.

The “new” high school Mr. Dieken referenced opened in August of 2005 and has served the community and its students very well for almost 12 years.

Mr. Dieken also stated that we are paying off $2,000,000 on leases that have to do with the Marshall school system. That amount is not correct.

There is a balance of $1,390,000 in various lease/purchase agreements at this time. They are for a roofing project, a school vehicle, and for leases for our technology program.

The district has capital facilities bonds and alternative facilities bonds, totaling $7,900,000 for energy conservation projects, along with a dehumidification project (heating, ventilation, air conditioning) at the middle school that were financed at a net zero interest cost for alternative and capital facilities bonds of $5.000,000, and 2.65 percent for alternative facilities bond of $2,900,000. These bonds to be paid off in 2030, 2027 and 2026, respectively.

Thank you for taking time to read this.

If you have questions about any aspect of the April 18 referendum or the district in general, feel free to contact me at 537-6924 or by email at scott.monson@marshall.k12. mn.us.

Scott Monson,

Superintendent Marshall Public Schools

Newsletter

Today's breaking news and more in your inbox

Today's breaking news and more in your inbox
Are you a paying subscriber to the newspaper? *
   

COMMENTS

Starting at $4.38/week.

Subscribe Today