Belton School District’s Board of Education will meet Thursday, June 14, at 7 p.m.
In addition to routine agenda items — such as hearing an update on the district’s English as a Second Language plan and possibly renewing a transportation contract — board members will oversee the sale of school bonds. Superintendent Andrew Underwood will update the board on the district’s school bond debt and credit rating. In addition, he will request the board’s approval of a resolution authorizing the sale of $9.85 million in bonds. The board’s approval is required before these bonds can be sold.
On June 1, Moody’s credit rating agency released a research report assigning Aa1 and Aa2 to different aspects of the Belton School District’s General Obligation Refunding and Improvement Bonds (Missouri Direct Deposit Program), Series 2012. According to information available on Moody’s website, Aa is their second-highest rating, defined as obligations that are “judged to be of high quality and are subject to very low credit risk.” Number 1 added to a rating means it “ranks in the higher end of its generic rating category,” and 2 ranks in the middle.
Earlier this spring, Belton voters approved the sale of school bonds to finance a building project designed to help ease overcrowding. Bonds are a form of public debt, similar to mortgages for home owners. According to the district’s informational flyer, the purpose of the bonds is to fulfill the strategic plan adopted by the Board of Education in 1999. As part of that plan, board members promised to “[c]ontinue construction of the comprehensive high school on the current Freshman Center campus.”
Tonight’s meeting, which is open to the public, will take place at the Walnut Building; 110 W. Walnut; Belton, MO 64012. The next meeting will take place Thursday, June 28.
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