GIBBON — The Gibbon Fairfax Winthrop (GFW) school board will hold a special meeting at 6 p.m. Tuesday, Oct. 1, in the primary school gym in Gibbon.

The board will discuss the Minnesota Commissioner of Education’s review and comment on the proposed building bonds.

The school district proposed a single-question bond referendum on Nov. 5 to authorize $49,490,000 in bonding to finance a new pre-kindergarten through grade 12 school in Gibbon and demolish existing schools in Winthrop and Fairfax.

Proposed projects scheduled for completion in the 2020-22 calendar years and cost estimates are: school construction $33,832,500; fees, permits & testing $5,973,466; contingencies $2,042,654; building demolitions $1,358,537; site improvements $3,094,982; land purchase $538,029; technology furniture, fixtures and equipment $2,152,117; and bond issuance $507,715.

The school district supplied cost estimates to operate and staff a new building and projects a significant operating cost reduction compared to operating three schools. The school board and Minnesota Department of Education believe a single site solution is in the best long-term interests of the school district.

If the bond referendum is successful and bonds are sold, debt service on the bonds will be eligible for debt service equalization under Minnesota Statute 123B.53, Subdivision 3.

The amount of debt service equalization aid, if any, the district receives is determined annually and is dependent upon property wealth, student population and other statutory requirements.

Based on the department’s analysis of the school district’s required documentation and other pertinent information from the Minnesota Department of Education, the commissioner of education provides a positive review and comment.

Persons desiring more information about the proposal should contact the school district superintendent’s office.

For more information, visit: www.gfwschools.org, click on menu, bond referendum.

Fritz Busch can be emailed at fbusch@nujournal.com.