The Mexico School Board approved a $4.05 million letter of credit to Chevron Energy Solutions for construction on the summer energy improvement project in a 10-minute special session Friday.
The move is not expected to impact the school district’s finances, because the district does not expect to use the letter of credit, but rather pay for the project using bonds.
As the applicant for the letter, made through Commerce Bank, the school district will be required to pay 1.5 percent of the value of the letter up front, or about $20,420.30. District Business Manager Tony Chance said Chevron has offered to reimburse the district for that amount.
“They have actually sent a check already,” Chance said.
The district also changed an amendment to its energy services contract with the company. The new amendment states that if the district does not pay Chevron by July 15, the company can charge against the letter of credit. It said that Chevron does not have to perform any work in excess of the $4,050,308 value of the letter of credit, even if the project is incomplete.
In four 6-0-1 votes, the board approved the change to the amendment, the letter of credit and a similar line of credit and authorized the board president Kenny Hoover and secretary Jennifer Baird to sign the documents related to the letter of credit. Board member Robby Miller abstained from the votes.
The board also approved personnel changes for the 2010-2011 school year and approved the hiring of summer school bus drivers by a 7-0 vote.
Treasurer Beverly MacFarlane asked if bus drivers are required to meet any physical standards in case they have to act in an emergency situation.
Drivers have to have a Class A license and pass a physical exam every two years. They are also drug-tested randomly throughout the year.
President Ken Hoover said the district’s protocol for what drivers must do after an accident complies with rules set by the Missouri Department of Transportation.
“MoDOT requires that if they were involved in an accident, they cannot drive, they are immediately picked up and taken to a testing site,” he said.
A part-time summer groundskeeper was included on the list of personnel approved at Friday’s meeting because it was thought that position had been left off a list approved at the previous board meeting.
The next school board meeting will be held at 5:30 p.m. Wednesday, June 9.
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The Mexico School Board approved a $4.05 million letter of credit to Chevron Energy Solutions for construction on the summer energy improvement project in a 10-minute special session Friday.
The move is not expected to impact the school district’s finances, because the district does not expect to use the letter of credit, but rather pay for the project using bonds.
As the applicant for the letter, made through Commerce Bank, the school district will be required to pay 1.5 percent of the value of the letter up front, or about $20,420.30. District Business Manager Tony Chance said Chevron has offered to reimburse the district for that amount.
“They have actually sent a check already,” Chance said.
The district also changed an amendment to its energy services contract with the company. The new amendment states that if the district does not pay Chevron by July 15, the company can charge against the letter of credit. It said that Chevron does not have to perform any work in excess of the $4,050,308 value of the letter of credit, even if the project is incomplete.
In four 6-0-1 votes, the board approved the change to the amendment, the letter of credit and a similar line of credit and authorized the board president Kenny Hoover and secretary Jennifer Baird to sign the documents related to the letter of credit. Board member Robby Miller abstained from the votes.
The board also approved personnel changes for the 2010-2011 school year and approved the hiring of summer school bus drivers by a 7-0 vote.
Treasurer Beverly MacFarlane asked if bus drivers are required to meet any physical standards in case they have to act in an emergency situation.
Drivers have to have a Class A license and pass a physical exam every two years. They are also drug-tested randomly throughout the year.
President Ken Hoover said the district’s protocol for what drivers must do after an accident complies with rules set by the Missouri Department of Transportation.
“MoDOT requires that if they were involved in an accident, they cannot drive, they are immediately picked up and taken to a testing site,” he said.
A part-time summer groundskeeper was included on the list of personnel approved at Friday’s meeting because it was thought that position had been left off a list approved at the previous board meeting.
The next school board meeting will be held at 5:30 p.m. Wednesday, June 9.
