I would like to share some updates with you on the
bond projects. The land on which the new vocational
academy will be built is under contract to the school
district. The closing date for the purchase of the land
will be toward the end of this school term. The owners of
the 18 condo units which sit on this land were very
reasonable and easy to work with in our final negotiations to acquire the property. Acquisition of the land and the 18 units are costing a little less than one million dollars which is exactly in the range we had anticipated. This money will come from interest generated on the investment of the bond money.Demolition of the units and preparation of the land for the new vocational academy will begin this summer. We are currently having an environmental Phase I study of the land to be sure we know of any hazardous material which must be removed prior to demolition. On January 9 the DLR Architects will be working with representatives from our local industries and health care institutions to get their input on the final design for the new vocational academy. After all, it is our hope that the students we train at the academy will be an excellent work force source for our local companies and businesses.

Some other good news along the financial front. We
have been advised by Moody's (a bond rating financial
institution) that the USD 308 bonds will be rated Aaa. This is a very good rating for school district bonds and the result will be that the bonds will be sold for a lower rate of interest. The rating firm stated that USD 308 was able to get this rating because of our sound financial status and our excellent cash flow. The bonds will be offered on Monday, January 8, and the Board will approve the sale of the bonds that evening at the regular board of education meeting. We are delighted about the bond rating, and we look forward to a favorable sale of the bonds.

You will begin receiving updates from me on a more
regular basis now that we are entering the planning phase for the actual construction of the bond projects. Each day brings more and more work - work that I look foward to and enjoy very much.

Thank you once again for all you did to make it
possible for our students to have over the next several
years updated and modernized facilities aligned with the
kind of educational programs we want to offer the young
people in Hutchinson.

I hope you and your family had a wonderful Christmas
and that 2007 brings you peace and happiness.
Wynona Winn