The first phase of roof construction at Washington Learning Center started in earlier summer. Originally the full roof replacement was scheduled to take place in three phases across three years, however a state statute allowed the school district to issue a bond to cover the last two phases this year. Journal file photo

NEW ULM – Repairs to the Washington Learning Center (WLC) roof will be completed later this year and the bonds fund issue for those repairs will be paid off sooner than expected.

Last July, the New Ulm School Board voted to issue a general obligation facilities maintenance bonds to complete roof repairs to Washington Learning Center. The school had initially planned to complete the WLC roof repairs in three phases with a different section of the roof being repaired each year for three years. This way the cost of the roof could be spread across three years. However, the passage of new statute gave the district the ability to fast-track the repairs. The school district was able to issue a maintenance bond without seeking voter approval.

This will allow for the repair of two roof sections in one year instead two. In addition, the school will save money on contractors and mobilizations. Instead of calling in a contractor and repair crews multiple years in a row, it gets completed in a single year and save on the overall cost with reduced inflation.

District business manager Mathew Moline said the district is authorized to receive $610,00 in bonds for the project. The actual repair project is estimated at $580,000.

Moline said when first authorized, the district plan was to pay off the bonds over five years with the last payment in 2030, but it was decided to make final larger payment in 2028. This will save the district on the overall interest payment.

Superintendent Sean Koster said in the year since the board first authorized this bond issuance, the repayment schedule has fluctuated.

Ehlers, the finance advisors assisting with the bond, had recommended the district refinance and spread the cost of the bond out through 2040 to take advantage of a better interest rate. This would have further reduced the tax to property owners.

Koster said the district had planned to take this recommendation, however the interest increased significantly following the start of the U.S./Iran conflict.

Koster said it was decided that instead extending the payments, the district should shorten the repayment timeline.

The actual construction on the WLC roof will begin July 1. The two sections that will be replaced were originally installed in 1998 and 2010.