The Jefferson County School District is making strides to proceed with the new bond program voters approved in November 2021.
In January of 2022, the district was informed that an additional $2.5 million was garnered from the sale of the bonds.
This premium is an extra amount investors paid for the district’s bonds because they offer an interest rate higher than the prevailing rate.
While the district will receive $2.5 million more than anticipated, the premium will not increase the tax rate.
It will, however, allow the district to support bond projects and prepare for cost escalations and contingencies that many construction projects face in the current economy.
In addition to this news, the Jefferson County School District board of directors is pleased to announce that Central Oregon-based Mike Tiller of Tiller Schoolhouse Consulting, LLC., has been selected as the owner’s representative to manage the projects funded by the bond.
This comes as a result of a three-month selection process the district implemented from December 2021 through February 2022.
Mike Tiller most recently worked for Bend-LaPine Schools as Executive Director of Facilities and led the completion of the new Caldera High School, that district’s first new high school in 20 years.
Tiller has a proven track record of successful implementation of more than $350 million in K-12 construction projects throughout his career.
In 2013, he managed a $96 million bond measure with 140 projects ranging from new schools, facility upgrades, and asset preservation projects. In 2017, he managed a $268 million bond measure with more than 159 projects.
This included projects ranging from new school construction building, renovating and additions to existing school buildings.
The $24 million bond measure will allow the school district to protect the community’s assets by improving the health, safety, and security in all of the district’s buildings, repairing and updating aging facilities and expanding vocational and early learning opportunities.
The bond will also allow the district to make much-needed improvements at the Madras High School Soccer Fields.
“We are excited to partner with Tiller Schoolhouse Consulting to make our bond projects a reality,” shared Jay Mathisen, Jefferson County School District Superintendent. “Tiller brings decades of Central Oregon school bond project management experience to the table and is committed to the success of our bond program. We look forward to sharing updates about our bond projects very soon.”