Wood BOE moves closer to bond sale | News, Sports, Jobs

Tom Pearcy, Bond Council and attorney at Bowles Rice LLP, speaks to the Wood County Board of Education about the Supplemental Resolution needed to move forward with the sale of bonds.
Photo by Douglass Huxley

PARKERSBURG — The Wood County Board of Education has taken another step towards the sale of bonds as it approved a supplemental bond resolution and chose United Bank to manage the bonds.

“This is a very simple resolution and really the next step in the bond process,” said Tom Pearcy, Bond Council and attorney at Bowles Rice LLP. “It’s required by statute, but this formally accomplishes that.”

United Bank, a Virginia banking corporation with corporate trust offices in Charleston, will serve as Registrar for the Bonds and the Dissemination Agent under the Continuing Disclosure Agreement. The West Virginia Municipal Bond Commission will serve as the Paying Agent for the Bonds.

Joe Nassif, Municipal Advisor and managing director at Piper Sandler, talked to the board about the recent rating they were given for the bonds. He said information packets were sent to both Moody’s Investors Service and Standard and Poor’s Rating Service.

“The purpose of those is to have ratings assigned on the bonds which investors could then rely upon,” Nassif said.

He said a stronger rating would result in more interest in the bonds and lower their interest rates. He said for the third time in the state’s history they went after a rating from Moody’s Investors Service.

“Moody’s Investors Service today assigned a double A three (Aaa) to Wood County public school bonds,” Nassif said. “And that’s a significant win.”

He said Moody’s did a “hard digging and liked what they saw” and that this was only the third time a school received this high of a rating.

“So, going forward, our next steps now are to prepare the board for a bond sale,” Nassif said.

He said they will need to release the offering packet, that lays out the terms of the bonds, to potential investors from around the world. He said there was very little West Virginia bond paper available right now and that he felt good they could get the deal done.

Nassif and Pearcy said a special bond meeting is set up with the board on Nov. 14.

Ashlee Beatty, director of curriculum and instruction, also gave the board a presentation on the West Virginia Schools Balanced Scorecard.

“I just want to say how proud I am of all of the schools, and I’m so grateful for their hard work for the kids in Wood County Schools,” Superintendent Christie Willis said. “To all of you, thank you very much.”

Information for the West Virginia Schools Balanced Scorecard can be found at www.mywvschool.org and a full list of schools and their achievements can be found in the online version of this story.

Julie Bertram received a Recognition of Extra Mile Award by the board for her work with the Handle With Care program.

Wade Darnold, a Wood County Schools’ bus driver, also received an Above and Beyond Caring Recognition by the board.

Darnold asked if he could take a bus to Butcher Family Farm during the Oct. 13-15 weekend. He washed and waxed the bus and then displayed it with the recruiting signs for needed bus drivers in the district.

During public comment Marry Beth Shultz spoke to the board about their decision to terminate the contract of Parkersburg South High School art teacher Stacey White.

“I don’t believe evil has happened, but I do believe a great injustice has happened,” Shultz said.

She said she has known White for a long time and that they were co-workers at Belpre High School. She said she doesn’t believe White was given due process.

“I’m very disappointed in your decision,” Shultz said.

The board also approved the hiring of Kaylee Litman as Assistant Finance Director. She will begin Nov. 9.

The next regular meeting of the Wood County Board of Education is scheduled for Nov. 14. The meeting is open to the public and will be streamed online.

Items approved during the consent and regular agenda:

The 2023 – 2024 WCS CTE Budget

Consideration of, and possible action on, a Supplemental Bond Resolution in connection with the Board’s Public School Bonds, Series 2023, approving and authorizing the form of the Preliminary Official Statement and Notice of Sale prepared in connection with the Series 2023 Bonds, approving and designating the Registrar, Dissemination Agent and Paying Agent in connection with the Series 2023 Bonds, authorizing and approving the reimbursement of certain capital expenditures and authorizing and approving other matters related thereto.

Edison HVAC Pay App 5, in the amount of $90,936

Grae Con Pay App 012 BSE in the amount of $20,855.55

Grae Con Pay App 013 BSE in the amount of $89,592.69

AFL-CIO Appalachian Head Start Contract for collaborative Pre-K Services – sharing of costs for classrooms for 2023-2024 school year

West Virginia Schools Balanced Scorecard Recognitions:

Blennerhassett Elementary

Meets Standards: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/Mathematics

Meets Standards: Academic Progress/English Language Arts

Meets Standards: Academic Progress/Mathematics

Criss Elementary

Meets Standards: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/Mathematics

Meets Standards: Academic Progress/English Language Arts

Meets Standards: Academic Progress/Mathematics

Emerson Elementary

Annual Target Met: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/Mathematics

Meets Standards: Academic Progress/English Language Arts

Meets Standards: Academic Progress/Mathematics

Fairplains Elementary

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Meets Standards: Academic Progress/English Language Arts

Meets Standards: Academic Progress/Mathematics

Gihon Elementary

Meets Standards: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Exceeds Standards: Academic Progress/English Language Arts

Exceeds Standards: Academic Progress/Mathematics

Greenmont Elementary

Exceeds Standards: Academic Achievement/English Language Arts

Exceeds Standards: Academic Achievement/Mathematics

Exceeds Standards: Academic Progress/English Language Arts

Meets Standards: Academic Progress/Mathematics

Jefferson Elementary

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Kanawha Elementary

Meets Standards: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Meets Standards: Academic Progress/English Language Arts

Meets Standards: Academic Progress/Mathematics

Lubeck Elementary

Meets Standards: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Exceeds Standards: Academic Progress/English Language Arts

Exceeds Standards: Academic Progress/Mathematics

Madison Elementary

Annual Target Met: Academic Achievement/English Language Arts

Meets Standards: Academic Progress/English Language Arts

Martin Elementary

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Mineral Wells Elementary

Annual Target Met: Academic Achievement/Mathematics

Neale Elementary

Meets Standards: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Meets Standards: Academic Progress/English Language Arts

Exceeds Standards: Academic Progress/Mathematics

Vienna Elementary

Meets Standards: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Meets Standards: Academic Progress/English Language Arts

Williamstown Elementary

Meets Standards: Academic Achievement/English Language Arts

Meets Standards: Academic Achievement/Mathematics

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Meets Standards: Academic Progress/English Language Arts

Hamilton Middle School

Annual Target Met: Academic Achievement/English Language Arts

Annual Target Met: Academic Achievement/Mathematics

Jackson Middle School

Annual Target Met: Academic Achievement/Mathematics

VanDevender Middle School

Annual Target Met: Academic Achievement/English Language Arts

Parkersburg South High School

Meets Standards: 4 Year Graduation Rate/Cohort

Annual Target Met: 4 Year Graduation Rate/Cohort

Meets Standards: 5 Year Graduation Rate/Cohort

Williamstown High School

Exceeds Standards: 4 Year Graduation Rate/Cohort

Annual Target Met: 4 Year Graduation Rate/Cohort

Meets Standards: 5 Year Graduation Rate/Cohort

Douglass Huxley can be reached at dhuxley@newsandsentinel.com