School Board will realize $500,000 from bond settlement
It was the final item, added to the agenda at the last minute and School Board members were clearly ready to be done with the minutia of a bond fund clean-up, until Eric LaFleur mentioned the $500,000 that would be left over.
The bonds were originally sold in 1986, with the proceeds used to build three high schools and make improvements at other schools.
On Thursday, the board approved creating what in essence is an escrow fund that will retire the bond issue.
LaFleur said the half million remaining after that is accomplished can be used for anything that fits the original intent of the issue. The money should be available within 90 days, he said.
That brought a smile to everyone’s face.
Earlier, the board had learned the initial estimate for repairs to hurricane-damage schools is about $87,000, not including Opelousas High and a couple of other plants severely damaged.
The estimates include $2,806 at Eunice Adult Education Center, $5,413 at Eunice Elementary, $2,903 at Eunice Junior High and $3,518 at Eunice Vocational.
Estimates were made for the board’s insurer by a firm retained by the insurance company.
The board also awarded a contract to LA Roofing for repairing and replacing the roof at Glendale Elementary.
The contract price is $224,800.