Thursday, May 22, 2014

Congratulations Hudson! The Bonds Are Paid in Full!

If you happened to read the board agenda from this past Monday night, you may have noticed an item included under the reports section titled "Bond Payoff". Although this particular agenda item was tucked deep within the agenda, that should not take away the significance of what was discussed in regard to this particular item. 

All of you homeowners out there should know what I am talking about! If you are like me, every month you write out a check to a mortgage company. It seems like a never ending process. Maybe you have a 10 year note, 15 year note, or 30 year note. It doesn't really matter though, because month after month, you write out that check. If you are lucky enough to have written out your last check and now own your home free and clear, then I am sure that was cause for celebration. If you still have a mortgage payment, I would imagine that is a day that you continue to look forward to and perhaps dream about!

The good news is that day finally came on May 1st, 2014 right here in Hudson! That day, the final payment on the General Obligation Bonds was wired to the bank. At this time, Hudson Schools no longer has any long term debt!

The original bonded indebtedness for this project was recorded in the school audit report dated June 30, 1995. Including interest and principal, the original note was for $7,018,885. In the intervening years, the debt was restructured to take advantage of lower interest rates. The most recent restructuring took place during my first year as superintendent, where we were able to reduce interest rates and save the district approximately $23,000. Throughout this process, the steady march toward May 1, 2014 continued.

The groundbreaking of the new high school happened on May 25, 1995 at 7:00 PM and was preceded with a community picnic and followed up afterward with a band concert. At that time, Allen Scneider was the President of the Board, Maureen Hanson was the Vice-President, and Dr. Jim Grover, Harold Sorenson, and Joel Iseminger were Directors. The superintendent at the time was Dr. Jerry Trullinger. A special thank you is in order for these leaders who had the fortitude to bring this vision to reality.

While reviewing the archives, I came across a 1997 report from the high school principal at the time, who described the date the students moved to the new building. It was Friday, May 9th, 1997:
"On Friday, May 9th, students in grades 7-12 assisted teachers by packing and moving items to the new high school. By noon, the move from the old high school had been completed and most items were unpacked an put in place......The new high school is a fantastic facility. We now have 21 new classrooms, 3 state of the art computer labs, an outstanding media center, an enlarged guidance office area with a conference room, 2 special education classrooms and conference center, a music wing...."
The 1997-1998 school year was the first year that the new high school was occupied. The superintendent at the time was quoted as saying, "The district completed its first full year occupying the new high school. This is the culmination of years of planning and hard work by the community. It signifies the commitment to education this community has and it provides the students in the district with high quality instructional space."

I agree and concur with my predecessor wholeheartedly. Congratulations to all of Hudson on reaching this very significant milestone!

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