Local News – Monday, November 2nd, 2020
The Board of Education of the Salem R-80 School District established a final terms committee consisting of Dr. Lynne Reed, Superintendent, Dustin Howard, Board President, and Larry J. Hart, CEO of L.J. Hart & Company at the regular Salem R-80 Board of Education meeting held on October 15, 2020 by authorizing a resolution for that purpose. The board approved the sale of $3,200,000 General Obligation Refunding Bonds to its municipal bond underwriter, L.J. Hart & Company of St. Louis, within certain reoffering yield ranges. Subsequently on October 29th, the final terms committee authorized the final sale of the refunding bonds with reoffering yields ranging from 0.45% to 1.15% to constitute a new effective interest rate of 0.88%, compared to the average interest rate of 2.30% for the Series 2016 Bonds that are being refunded. The sale of these bonds will help the district reduces the future interest expense by about $123,047 which is an improvement of $16,906 from previous conservative projections at the regular board meeting. It is the result of the extremely strong current municipal bond market that is producing historically low interest rates as well as the good name of the district in the municipal bond credit market. This $123,047 savings plus the approximate savings of $511,592 from a previous refunding means the district has saved about $634,639 of interest expense since 2013. There are three significant factors making the Series 2020 refunding attractive that include the lower interest rates than in 2016, the fact that the Series 2016 Bonds are subject to prepayment at no penalty on March 1, 2021, and the District’s ability to participate in the State of Missouri’s Direct Deposit Program. This program makes it possible for the District to receive a “AA+” rating from S&P Global on the refunding bonds. The refunding bonds were made available to local financial institutions with The Town & Country Bank acquiring $750,000, Progressive Ozark Bank purchasing $500,000, and The Bank of Salem buying $200,000 of the Bonds. The closing for the Series 2020 Refunding Bond issue will be December 9th.
The City of Salem Board of Aldermen will meet this evening at 7:00 at the City Hall Council Chambers at 202 North Washington. At the meeting, the board will hear from Teresa Stark from 1203 S. Washington Street who is having issues with the neighbor’s dogs and indicates they are burning when they are not supposed to burn. The board will also hear from Samara Dozier from 1506 South Main Street who is requesting a written permit from the Board of Aldermen to keep mini pigs at her home. The board will also hear bids from three companies on a grinder pump station equipment package for the Highway 72 and Route J sewer project. After the consent agenda, the board will hear from Planning and Zoning Committee Chairman Gary Brown about the Planning and Zoning meeting held on October 20th and any recommendations they may have. City Administrator Ray Walden will then provide the board with an update on a number of city projects before the board hears Bill #3465 allows for the subdivision of the Master’s Industrial Park to develop Tract A, B and C. The meeting will then be adjourned. The board of Aldermen meeting is open to the public and they will adhere to social distancing at the meeting.
A Licking resident was involved in a one vehicle accident Thursday afternoon at 2:46 in Phelps County on eastbound I-44 at the 189 mile marker. According to the Highway Patrol Report a 2006 Chevrolet Silverado, driven by 26 year-old Keysa Stokes of Licking, traveled off the left side of the roadway. Stokes overcorrected and the Chevy traveled off the right side of the road and struck an embankment. Stokes suffered moderate injuries and was flown to Mercy Hospital in Springfield. The Chevy was totaled and removed from the scene by C & C Towing.
A fatal accident occurred Saturday afternoon at 4:00 in Phelps County on Highway 63 about three miles south of Rolla. According to the highway patrol report, a 2014 Chevrolet Silverado driven by 55-year old Thomas Schmuelling of St. Louis was traveling northbound when he traveled across the center of the roadway and struck a 2017 Ford Focus in the side that was traveling southbound driven by 48-year old Shauna Diedrich of Rolla. Then the Silverado struck a 2016 Kia Sorento driven by 40-year old Dawn Kurtti of St. James head on. An occupant of the vehicle 54-year old Melissa M. Schmuelling of St. Louis was pronounced dead at the scene at 4:09 by Phelps County Coroner Andy Davis. Her body was transported to Null and Son Funeral Home in Rolla by the Coroner. Thomas Schmuelling suffered serious injuries and was flown from Phelps Health Rolla to University Hospital in Columbia. Shauna Diedrich suffered serious injuries and was flown from the scene by Air Evac to Cox South Hospital Springfield. An occupant in the Ford Focus, 19-year old Morgan Diedrich of Rolla, suffered minor injuries and was transported by private vehicle to Phelps Health in Rolla. Dawn Kurtti also suffered serious injures and was flown from the scene by Mercy Lifeline to University Hospital Columbia. According to the report all injured parties were wearing a safety restraint at the time of the accident. The Chevrolet and the Kia were both totaled and the Focus sustained extensive damage. All three vehicles were removed from the scene by Ron Dishman’s Towing.