The school board of the SVVSD agrees to an early repayment of the bond and saves interest

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The St. Vrain Valley School Board on Wednesday agreed to prepay $34.7 million on construction bonds issued in 2012.

The bonds had an initial payment schedule of 12 years, with the final payment scheduled for December 2024. County officials said the bond redemption fund has enough money in reserve to redeem it early in late October, saving about $767,000 in interest.

Superintendent Don Haddad also said the school district is still considering asking voters to approve another capital construction bond in November 2024 to pay for renovations and new schools necessitated by enrollment growth.

The district’s last bond issue of $260.3 million was approved by voters in 2016.

In other matters, the board heard a performance report and approved accreditation recommendations for schools as required by the state. The school rating categories used in the accreditation system are, from lowest to highest, turnaround, priority improvement, improvement and achievement.

Only one St. Vrain school – Longmont’s Longs Peak Middle School – does not rank in the top two categories. As a school in the turnaround category, Longs Peak will receive additional support from the school district, officials said.

With the state considering this a transition year, schools like Longs Peak with low ratings have until next year to improve before being put on the accountability clock. Once on the accountability clock, schools face government sanctions if they fail to improve after five consecutive years.

Five schools did not have enough performance data to receive an assessment, generally because too few students completed state tests. These schools are Highlands Elementary, New Meridian High School, St. Vrain Community Montessori School, St. Vrain LaunchED Virtual Academy and St. Vrain Virtual High School.

Ratings are based primarily on performance on statewide tests and year-over-year growth in language skills and math tests. At high schools, assessments also include graduation and dropout rates, as well as college entrance exam results. This year marked the first full administration of nationwide testing since 2019.

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