The Harrison School Board of Education meets Tuesday night and discussion of the old junior high complex, as well as refinancing bonded debt, are on the agenda.
In June, the board heard about an appraisal of the old junior high buildings that have been empty for a couple of years.
The appraisal was broken down into two sections. The first section consisted of the entry and offices, the classroom section and the gymnasium. The second appraisal was for the old armory that served as the cafeteria, the band building, a storage building and the round cistern house where some property is also stored.
The appraisals also came with valuations of both the buildings and what it might cost to demolish them if necessary.
Board members agreed that it might be hard to find a buyer willing to pay the recommended values, but no decisions were made at the June meeting.
The bonds sold to build on to the High School and Middle School to enable the district to move out of the old junior high are also up for refinancing.
Scott Beardsley with First Security Beardsley Public Finance in Little Rock attended the board’s June meeting.
He explained that the district could be able to refinance those bonds at a lower interest rate that might see the district save about $1.6 million in the first year and about $200,000 more over the remaining life of the bonds that mature in 2044.
Those savings could be used for almost anything the school wanted, he said.
Beardsley did warn that the effect of proposed tariffs and other factors could affect interest rates in the bond market. Should those effects take interest rates higher, the board could abandon the idea of refinancing for the time being.
Among other items on the meeting agenda is consideration of 5% salary increases.
The board is set to meet at 6 p.m. Tuesday in the school Administration Building at the corner of Cherry Street and Stephenson Avenue.