Bond resolution approved
Vance County commissioners on Wednesday evening passed a resolution for the adoption of $2 million in Qualified Zone Academy Bonds.
“This would be our fourth issuance of QZAB or QSCB, Qualified School Construction Bonds,” said Jerry Ayscue, county manager. “It is interest free, financed over a 15 year period of time.”
The purpose of the $2 million will be to pay the cost of renovating various schools in the county, particularly science labs at Northern Vance, and a major roofing replacement project at Aycock, Dabney and Zeb Vance elementary schools.
Gupton Roofing in Henderson was the low bidder for construction, with a proposed cost of $976,400, and is awaiting confirmation from commissioners to set a date for construction.
“We have committed ourselves through the middle of July, and we would love to be able to start Vance County work at the end of July,” said Irv Gupton, owner at Gupton Roofing inc.
As part of the QZAB resolution, commissioners requested the Local Government Commission approve the financing arrangement.
“They have to approve any issuance of new debt for local government,” said David Beck, the county finance officer.
Commissioners are hoping for a quick turnaround on approval from the LGC so roofing replacements can begin before the end of July. Otherwise, a 5 percent cost increase is expected, according to Gupton.
“If we can start work in the middle or latter part of July, the price will stay where it is right now,” Gupton said. “The market is always trying to move up.
“Once we get a commitment from Vance County that says we got the job, then I’ll tell people to wait till I take care of Vance County.”
Ayscue mentioned finding out when Vance County’s recommendation for the LGC’s approval of the financing arrangement would appear on their agenda.
“We’ll know whether or not it will be on the LGC’s agenda, but if it gets past their staff, and on their agenda, then the likelihood of it passing is good,” Ayscue said.
Claiborne Woods, director of the Vance County School’s maintenance department, is also eagerly awaiting construction, as nearly $30,000 to $40,000 is spent annually to patch worn out roofs.
“We first came to you all about this in 2009, and we’ve been spending third to forty thousand a year on patches and repairs,” Claiborne said.
Another local construction company, H.G. Reynolds Construction of Henderson, has been awarded a bid of $545,850 for the renovation of science labs at Northern Vance.
According to Beck, $364,145 is left over from funds allocated for the construction of Clarke Elementary School. An additional $199,000 remains from a QSAB bond issued in 2010 for the addition of multipurpose rooms at several schools, and heating, ventilation and air conditioning renovations at Northern Vance.
Using the remaining funds from construction of Clarke Elementary toward science lab repairs would leave $181,705 as the remaining cost of the science lab project at Northern Vance.
The board of commissioners must receive approval from the LGC, and the Vance County School board must be cleared through the Department of Public Instruction prior to using the remaining QSAB bond amount of $199,000.
Prior to adjournment of the meeting, commissioners agreed on May 30 and June 4 at 6 p.m. as dates for budget work sessions.
A public hearing will be held during commissioners’ regularly scheduled meeting on June 3, during which time comments and concerns related to the county budget are welcome for discussion.
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