Nevada County Picayune and Gurdon Times Newspaper Archive

Details discussed for special election

The decision as to whether or not the Gurdon School District will have a new auditorium will be placed in the hands of the district's voters.

In a special meeting on Tuesday, Feb. 27, the Gurdon School Board voted unanimously to call a special election to ask voters to approve restructuring of the district's debt. The move would allow the district to sell new bonds in the amount of $1.72 million.

Carey Smith, vice president of Step-hens Investments, told the board that restructuring the debt basically meant that new bonds would be sold to pay off the balance owed on existing bond issues and to fund construction of the new building. The restructuring will be done without raising the district's millage rate or annual bond payment amount.

"We've got to stress to our voters that this is not a tax increase," Superintendent Bobby Smithson said. "If they want an auditorium they'll vote for it. If they don't, they won't."

Of two options presented to the board, members decided on one with an approximate 27-year repayment term. The bond issue will raise $6,385,000 with $4,665,000 going to retire existing bonds. That leaves $1.72 million for the district's construction fund.

Smith said that although he presented this option with a 27-year repayment term, it might not take quite that long. He said an extra year is often added into the proposal to voters as a buffer to allow for the possibility of rising interest rates.

"We'd probably structure this thing and take it to market with a 26-year term," he said.

Gurdon School District officials have been discussing the possibility of constructing a new auditorium for several months. The project was submitted as part of the district's request for partial funding from the Arkansas Department of Education in the fall, and ADE has agreed to fund 48 percent.

In the meeting, Smithson provided preliminary cost estimates to the board from the district's architect. The estimate calls for a 17,500-square-foot auditorium which would seat 1,200 people. That portion of the project would cost $1.85 million.

The architect provided two alternates which the board could add to the building. Alternate one includes a 1,000-square-foot alumni room and a 2,500-square-foot administrative suite for the superintendent's office. That alternate would cost an additional $350,000.

Smithson said he thinks the price for alternate one is a "little high for that type of construction." He also said that the alumni room should probably be enlarged.

Alternate two includes the addition of 140 parking spaces in front of the building. That would add $250,000 to the project.

The board agreed that the district should go ahead and build the auditorium with both alternates. Smithson said he thinks the state will pick up its share of the cost for the additional parking spaces, but the district will likely have to bear the entire cost of the alumni room and administrative suite.

It is not clear how long the state funds which have already been approved for the project will be available to the district.

"We're foolish if we don't try to take advantage of it," Smithson said.