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Spring Hill Board of Education Meeting

Art Credit: KC Education Enterprise | Illustration Credit: 123rf stock image | Logo Credit: Spring Hill School District

The Spring Hill School District’s Board of Education met Monday, Feb. 13, at 7 p.m.

In addition to routine items on the agenda, such as hearing a treasurer’s report and overseeing personnel changes, board members had a full schedule yesterday evening.

A significant action item on the agenda was consideration of a resolution to refinance school bonds. The goal was to take advantage of more favorable interest rates and save money for the district.

In addition, the Gilmore & Bell law firm — which is guiding the board through this bond issue — advised them to put into place a new tax-exempt compliance procedure.

“For several years IRS officials have expressed concern that state and local governments do not have adequate written procedure to ensure that ongoing federal tax requirements are met after the closing of a bond issue,” the bond attorneys advised in a written report. “If bond proceeds are not invested or if  financed facilities are not used in a manner permitted by tax law, interest on the bonds is not tax-exempt, and the investor could incur a significant federal income tax liability.”

The Board of Education meeting took place at the Hilltop Education Center; 16740 W. 175th St.; Olathe, KS 66062.
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About jwmartinez

JoLynne is a journalist and educator. She holds a bachelor's degree in journalism from the University of Kansas and a Master of Arts in Teaching from Park University and is certified to teach high school journalism and English. Former employment includes work for Cable News Network and the University of Missouri-Kansas City in addition to freelancing for clients such as the Kansas City Star and The Pitch.

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