A special board session has been scheduled for 1:30 p.m. Thursday at the Administration Building for the following purpose, according to the agenda:
During the meeting, the Board will consider a resolution authorizing the District to (1) issue Certificates of Participation (Joplin Schools, Joplin, Missouri) Series 2015A, in a principal amount not to exceed $29,000,000, the proceeds of which will be used to (a) refund and prepay certain Certificates of Participation (Joplin Schools, Joplin, Missouri) Series 2014A and (b) pay a portion of the costs of completing a rebuilding project in advance of being reimbursed for such costs from federal and state grants, (2) amend lease agreements with the Missouri School Boards Association required to issue the Series 2015A Bonds, and (3) amend an agreement with the purchaser of the Series 2014A Bonds prior to their prepayment.
It should be noted that according to Board President Anne Sharp and Superintendent C. J. Huff, the drop in the district's reserves has always been expected, so naturally, they must have always anticipated they would be taking out a $37 million dollar loan in August 2014 and a $29 million dollar loan in March 2015, as well as continuing their spending at a level that would ensure they would meet their prediction.
Thursday's board meeting will also include a closed session for real estate purposes.
18 comments:
OH My God! Lookout Joplin here it comes again. These idiots were voted in and allowed puff to hire all his uneducated, uncertified and inexperienced jokes. They remind me of The Keystone Cops except The Cops were making fun of the police. The board and puff crew are making a laughing stock of the citizens of Joplin and make no mistake, people are laughing!!!
I'm not sure most of you will live long enough to see a wonderful R-8 School District in your time left on this earth. I wish all you taxpayers good luck paying off puff"s debt. Good Luck! You are going to need lots of it.
Just a thought - do you think the current School Board wants to get the $29 million passed - BEFORE the April 7th election???
The School Board may fear that the vote could be 4 to 3 AGAINST the $29 million - AFTER April 7th.
Well now, you see, President Sharp and Cj Huff scratched their heads and pondered and pondered what to do about this here financial problem. They couldn't even begin to figger out how to squeeze blood out of one of them there turnips, so they said, "We got it!" We'll just borrow some more of that cash that nice gentleman offered, and put that purty new high school up for collateral to show we are nice folks, and then we'll have plenty of that there green stuff.
There you have it, folks, and before that mean ol' auditor's office could come back and check on their progress within 90 days. That's some smart thinking is what that is. Uh huh. You betcha.
For our kids!
Haven't they had to borrow around 67 million so far? On top of that bond and the insurance? Seems like some fiscal restraint might have helped this situation before we got in this shape. There seems to be no fiscal oversight on the part of the elected governing body, so I say vote the mess out. Put in Koch, Roberts, and Martucci. Problems will be solved.
3:04,
DING DING DING
As I recall, 14.8 million of this loan is to pay off 14.8 million of a previous loan. I think that's close, anyway. Borrowing money to pay off borrowed money is a bad idea. Robbing Peter to pay Paul, looks like. What will it be next, payday loans? Shaking the kids down for their milk money? I'd say staff, but we all know they don't have any money. Pathetic
Anne Sharp: We will decide how important fund balances are
Apparently NOT!!!
Amen 6:38
Who would want to loan them money at this point?
It is a strange place here in R8 Land. When those in Ferguson and everywhere else in the real world fail publicly, they step down. If CJ were in Ferguson, he would have received a medal, and told the citizens there to eat cake.
If all you poor ignorant Joplinites knew anything about high finance, you would understand that this can all be handled by appointing a few more hundred thousand dollar plus positions at the new big administration building. I personally would like to see Director of Figurin' Stuff Out.
We are so screwed! This Huff guy is such a joke and his minions are idiots. None of them know anything about budgets or restraint/self control, or respect to the voters. They are just a bunch of idiots playing with free tax money with this insane idea that FEMA is going to send them millions. New Orleans is still waiting, why would they pay us first, and FEMA has no money just laying around to give us. There have been other disasters since ours that have cost millions, we are old news.
One thing I know for sure is that I love love our private school, we still have to pay taxes too but it is SO worth it in the long run.
Plus taking out a loan to pay a loan is illegal
With all due respect, I think it is now billions (with a b). Re: Sandy, et. al.
As Dave Ramsey would ask someone taking out a loan to pay a loan, "are you just stupid?" In this case the answer would have to be "why yes we are!"
HR Huff n Puff must be smoking the good stuff. Medicinal of course. Why in the widew world of sports would her and his band of thieves think it is ok to borrow more money. Does he need a bigger pool? Is there a fire sale on Joplin property they want to snatch up for Franklin Tech? Does Tina Smith need some plastic surgery? Does Doshier need skin tightening surgery? Maybe a lunch for all the staff at the R8 bunker catered by Woflgang Puck or Bobby Flay. This needs to be an OPEN after 5pm meeting so the puclic can see what the rationalization they try to spin on this.
Technically, they never call this a loan. It is a certificate of participation. A certificate to participate in the downfall of what was once a really good district until President Sharp put CJ Huff in charge of it seven years ago. It's been a steady drop ever since. It's difficult to admit when you're wrong, but President Sharp needs to let down her pride and step aside. This is a disastrous mess on all levels, and she is at the helm. It was her job to protect the interest of the public, not CJ Huff.
She should have listened to her family and not run again. That would be the least she could do at this point.
Still waiting for the jobs to be posted. So far the only teaching jobs are for very specialized positions (ED/SPED/ROTC) with one core job. You mean to tell me that no one is retiring this year, or quitting? I find that hard to believe. So, the conclusion is they are putting the TLCs back where they belong or they are smashing kids into classes and won't replace the teachers. Other districts have their openings up and are filling them quickly. Joplin will screw this up, too. With Tina in charge, it's inevitable.
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