Montoursville Area High School – Additions and Renovations Act 34 Public Hearing February 24, 2015

Montoursville Area

High School – Additions and Renovations

Act 34 Public Hearing

February 24, 2015

TABLE OF CONTENTS Page 1. AGENDA 2 2. INTRODUCTION 3 3. PROJECT NEED 4 4. SUMMARY OF DISTRICT OWNED BUILDINGS AND LAND (A-09) 6 5. OPTIONS CONSIDERED 7 6. PROJECT DESCRIPTION 8 7. SITE PLAN AND FLOOR PLANS 9 8. PROJECT ACCOUNTING BASED ON ESTIMATES 14 (PLANCON D-02 and 03) 9. OTHER DETAILED COSTS 16 (PLANCON D-04) 10. ESTIMATED MAXIMUM REIMBURSABLE PROJECT AMOUNT 17 (PLANCON D-08 and D-09) 11 ACT 34 MAXIMUM BUILDING CONSTRUCTION COST 19 (PLANCON D-20) 12. ANALYSIS OF FINANCING ALTERNATIVES 20 13. COMPARISON OF LONG TERM FINANCING METHODS 21 14. BOARD RESOLUTION OF MAXIMUM BUILDING COST 28 AND PROJECT COST 15. PUBLIC HEARING NOTICE 29

AGENDA 1. CALL TO ORDER / INTRODUCTION Tom P. McNamara Board President 2. HEARING, DULY CONSTITUTED Fred Holland Murphy, Butterfield, & Holland Solicitor 3. PURPOSE OF THE MEETING Dr. Timothy Bowers (Need for the Project) Superintendent of Schools 4. PROJECT DESCRIPTION Paul Taylor Crabtree, Rohrbaugh & Associates Director of Education Architecture 5. FINANCIAL ANALYSIS Stephen Flaherty

RBC Capital Markets Financial Advisor

6. PUBLIC COMMENT Question and Answer Period A. Pre-registered speakers / comments B. Please raise hand, stand, and state name, address C. One question at a time - five minute limitation per speaker

This public hearing is being held in accordance with Act 34 of 1973 of the Commonwealth of Pennsylvania. The purpose is to have the District Administration, Architect and Financial Advisor present a proposal for additions and renovations to the existing High School. The specific purposes for this hearing are as follows:

1. A description of the need for the project by reviewing supporting factors.

2. Review the various options considered by the Board prior to the decision to proceed with the current project proposal.

3. A description of the project that meets educational/community functions including energy efficiency and technology upgrades.

4. Present the estimated maximum building construction cost, total project cost, indirect costs,

financing methods and estimate of local tax impact. 5. Provide school district residents an opportunity to offer comments and written testimony

concerning the project.

Montoursville Area

High School – Additions and Renovations`

Introduction

Existing Educational Program deficiencies include, but are not limited to: Inadequate space for

o Science o Physical Education o Music o Drama/Auditorium/Stage o Art o Guidance o Student Commons/Flexible-Learning Spaces o Community Functions

Inefficient Departmental Organization due to existing building limitations Existing Building Physical deficiencies include, but are not limited to:

Inadequate Security due to limited control of building entrances Inadequate Safety relative to current building codes (fire suppression/alarm, ventilation) Heating, ventilation and cooling systems near end of service life Electrical and plumbing systems near end of service life Inadequate Energy Efficiency in building components ADA accessibility

Need for the Project

Montoursville Area


SUMMARY OF OWNED BUILDINGS AND LANDDistrict/CTC: Project Name: Grades:

Montoursville Area High School - Additions and Renovations 9 - 12

PRESENT PLANNED#1 #2 #3 #4 #5 #6 #7 #8 #9

NAME OF BUILDING OR SITE(INCLUDING DAO AND VACANT LAND)OWNED BY SCHOOL DISTRICT/CTC

CONVERSION /DISPOSITIONAND PLANNED

COMPLETION DATEBASED ON

OPTION CHOSEN

LYTER Elementary 1958 7.5 K - 4 575 Maintain 7.5 K - 4 575

1962AA

1998AA

LOYALSOCK VALLEY Elementary 1960 13.8 K - 4 350 Maintain 13.8 K - 4 350

1989 Alt

Subtotal XXXXXXXXX XXX XXXX 925XXXXXXXXXXXXXXXXXXXXXXXXX XXXX 925

McCALL Middle School 1972 30.4 5-8 815 Maintain 30.4 5-8 815

2010AA

Subtotal XXXXXXXXX XXX XXXX 815XXXXXXXXXXXXXXXXXXXXXXXXX XXXX 815

High School / DAO 1931 15.4 9-12 1,091

Additions and Alterations 15.4 9-12 1,040

1949AA August 20171963AA

1974AA

1993AA

Subtotal XXXXXXXXX XXX XXXX 1,091XXXXXXXXXXXXXXXXXXXXXXXXX XXXX 1,040

OPTIONS CONSIDERED The District analyzed several scenarios that explored the utilization of existing district buildings to meet the desired high school educational program. These construction options sought to maximize opportunities and minimize the constraints of the building site and structure. Although each offered a possible solution, most offered undesirable building organizations, restricted sites, and/or compromises to the educational program.

1. Existing High School - Additions and Renovations

2. New Elementary School

3. New High School (Option selected) This option was considered to have the best combination of:

Overall cost to the District

Educational Program Improvements

Consolidating age appropriate groups

Long term value for construction dollars spent

Least disruptive to educational process

High School Option 1 $37.8 Million Maintains a majority of existing building. Additions = 116,775 SF New Maintenance building required off-site

High School Option 2 $42.6 Million

Maintains a less of existing building. Additions = 200,000 SF New Maintenance building required off-site

High School Option 3 $43.3 Million

New School at new site High School Option 4 $22.0 Million

Renovations only, no additions. High School Option 5 $36.0 Million Option Selected

Majority of High School is new three-story structure Additions = 135,000 SF Maintenance building remains on site Existing Gymnasium remains

Reasons Option 5 was selected: Best use of existing building value and new educational space organization Compact, energy efficient, three-story building maximized space for practice fields and parking Best long-term value for dollars spent

Options Considered

Option 1: Additions & RenovationsSite Plan / First Floor Plan 38

Mulberry St.

N

Arc

h S

t.

Option 2: Additions & RenovationsSite Plan / First Floor Plan 43

Option 3: New High SchoolSite and First Floor Plan 43

Option 4 22

11

Montoursville Area



Existing Science Rooms

Planned Science Rooms

Montoursville Area


Existing Auditorium

Planned Auditorium


Site PlanOption 5: Additions and RenovationsMontoursville Area High School

14

MULBERRY STREET

OPTIONS CONSIDERED The District analyzed several scenarios that explored the utilization of existing district buildings to meet the desired high school educational program. These construction options sought to maximize opportunities and minimize the constraints of the building site and structure. Although each offered a possible solution, most offered undesirable building organizations, restricted sites, and/or compromises to the educational program.

1. Existing High School - Additions and Renovations

2. New Elementary School

3. New High School (Option selected) This option was considered to have the best combination of:

Overall cost to the District

Educational Program Improvements

Consolidating age appropriate groups

Long term value for construction dollars spent

Least disruptive to educational process

PROJECT DESCRIPTION Summary of Site Site Size / Condition: 15.4 Acres (Existing) Current Site Usage: School Wetlands: None Available Utilities: Electricity, Sewer, Water, Gas Service Proposed Community Use Areas: Open Playfields Parking Count: Estimated 314 spaces Safety/Security Measures:

School Administration Office location allows view to main entrance and parking areas Separated Auto and Bus Drop Off / Pick Up Areas Separate Loading Dock and Receiving Area

Summary of Proposed Project

Additions and renovations to High School Demolition of approx. 125,000 SF of existing structure Approx. 135,000 new SF and renovations to approx. 74,815 SF One, Two and Three Level Masonry Structure Total Square Footage: approx. 209,815 SF

Montoursville Area


Program Spaces include:

General Classrooms Science Labs Special Education Classrooms Art Rooms Music Rooms Small Group Instruction Library Technology Labs Business

Family and Consumer Science Foreign Language Gymnasium Auxiliary Gymnasium Auditorium Administration Offices Cafeteria and Kitchen

New Building Systems:

Heating Ventilation Air Conditioning Electrical Plumbing Windows/Doors

Fire Suppression Fire Alarm Emergency Lighting Data/Communications Clock System Interior Finishes

Montoursville Area


Montoursville Area


Montoursville Area


Intentionally Blank

FIRST FLOOR PLAN EXISTING AND NEW

FIRST FLOOR PLAN

SECOND FLOOR PLAN THIRD FLOOR PLAN

Main Entrance

Classroom Wing

District Administration Entrance 1

Bird’s eye District Administration 1

District Administration Entrance 2

Stadium Entrance

PROJECT ACCOUNTING BASED ON ESTIMATES (1 of 2)District/CTC: Project Name: Project #:

Montoursville Area High School

PROJECT COSTS NEW EXISTING TOTAL

A.Structure Costs (include site development)1. General (Report costs for sanitary sewage disposal on line E-1.) 15,336,443 910,760 16,247,203

2. Heating and Ventilating 4,990,353 3,033,993 8,024,346

3. Plumbing (Report costs for sanitary sewage disposal on line E-1.) 1,281,722 839,190 2,120,912

4. Electrical 3,455,747 1,613,826 5,069,573

5. Asbestos Abatement (D04, line C-3) X X X X X X 35,000 35,000

9. TOTAL-Structure Costs (A-1 to A-7-Subtotal plus A-8-c) 25,064,265 6,432,769 31,497,034B. ARCHITECT'S FEE

1.Architect's/Engineer's Fee on Structure 1,715,254 428,251 2,143,505

2. EPA-Certified Project Designer's X X X X X XFee on Asbestos Abatement X X X X X X 10,036 10,036

3. TOTAL - Architect's Fee 1,715,254 438,287 2,153,541

C. Fixtures and Equipment1. Movable Fixtures and Equipment 427,426 142,475 569,901

2. Architect's Fee No Fee No Fee

3. TOTAL - Movable Fixtures & Equipment 427,426 142,475 569,901D. STRUCTURE COSTS, ARCHITECT'S FEE,

MOVABLE FIXTURES & EQUIPMENT - 27,206,945 7,013,531 34,220,476

TOTAL (A-9 plus B-3 and C-3)

E.Site Costs 1. Sanitary Sewage Disposal 12,500 12,500 25,000

4. Architect's/Engineer's Fee forSanitary Sewage Disposal 750 750 1,500

6. TOTAL - Site Costs 13,250 13,250 26,500F. STRUCTURE COSTS, ARCHITECT'S FEE,

MOVABLE FIXTURES & EQUIPMENT, AND 27,220,195 7,026,781 34,246,976SITE COSTS - TOTAL (D plus E-6)

PROJECT ACCOUNTING BASED ON ESTIMATES (2 of 2)District/CTC: Project Name: Project #:

Montoursville Area High School

PROJECT COSTS (CONT.) TOTAL

G. Additonal Construction Related Costs1. Project Supervision (inc. Asbestos Abatement Project Supervision) 543,753

4. Architectural Printing 83,109

5. Test Borings 11,662

6. Site Survey 14,500

8. Contingency 500,000

9. TOTAL - Additional Construction-Related Costs

H. Financing Costs BOND ISSUE/NOTE BOND ISSUE/NOTE BOND ISSUE/NOTE X X X X X X FOR THIS PROJECT ONLY SERIES OF 2015 SERIES OF 2016 SERIES OF 2017 X X X X X X

1. Underwriter Fees 88,000 140,000 88,000 316,000

2. Legal Fees 40,000 40,000 40,000 120,000

3. Financial Advisor

4. Bond Insurance 26,125 47,000 26,125 99,2505. Paying Agent/Trustee

Fees and Expenses 1,500 1,500 1,500 4,500

6. Capitalized Interest

7. Printing 8,750 8,750 8,750 26,250

8. CUSIP & Rating Fees 10,000 14,000 10,000 34,000

9. Other

10. TOTAL-Financing Costs 174,375 251,250 174,375 600,000

I. TOTAL PROJECT COSTS (F plus G-9 plus H-10)

BOND ISSUE/NOTE BOND ISSUE/NOTE BOND ISSUE/NOTE

Revenue Sources SERIES OF 2015 SERIES OF 2016 SERIES OF 2017 TOTAL

J. AMOUNT FINANCEDFOR THIS PROJECT ONLY 10,000,000 16,000,000 9,975,000 35,975,000

K. ORIGINAL ISSUE DISCOUNT/PREMIUM FOR THIS PROJECT ONLY

L. INTEREST EARNINGSFOR THIS PROJECT ONLY 7,000 11,000 7,000 25,000

Q. TOTAL REVENUE SOURCES 36,000,000

36,000,000

1,153,024

DETAILED COSTSDistrict/CTC: Project Name: Project #:

Montoursville Area High SchoolNEW EXISTING TOTAL

A. Site Development Costs1. General (include Rough Grading to Receive Building) 2,725,364 480,947 3,206,310

2. Heating and Ventilating

3. Plumbing 12,500 12,500 25,000

4. Electrical 180,000 20,000 200,000

9. Site Development Costs - Total 2,917,864 513,447 3,431,310B. ARCHITECT'S FEE ON SITE DEVELOPMENT 175,072 30,807 205,879

EXISTING

C. Asbestos Abatement1. Asbestos Abatement 35,000

2. AHERA Clearance Air Monitoring

3. Asbestos Abatement - Total (D02, line A-5) 35,000

D. EPA-CERTIFIED PROJECT DESIGNER'S FEE ON ASBESTOS 10,036

ABATEMENT (D02, LINE B-2)

E. Roof Replacement / Repair1. Roof Replacement Repair 50,0002. Owner Controlled Insurance Program on Roof Replacement/Repair

3. Builder's Risk Insurance (if not included in primes)

4. Roof Replacement/Repair - Total 50,000

F. ARCHITECT'S FEE ON ROOF REPLACEMENT/REPAIR 3,000

ACT 34 OF 1973: MAXIMUM BUILDING CONSTRUCTION COST

FOR NEW BUILDING OR SUBSTANTIAL ADDITION ONLYDistrict/CTC: Project Name: Project #:

Montoursville High SchoolAct 34 applies only to costs for NEW CONSTRUCTION. The legal requirements do not address the costs for alterations to existing structures. For thisreason, costs associated with the existing structure and other related costsshould not be included in the following calculations.

A. STRUCTURE COST, ARCHITECT'S FEE, MOVABLE FIXTURES

AND EQUIPMENT (D02, line D-NEW) $ 27,206,945

B. EXCLUDABLE COSTS FOR NEW CONSTRUCTION

1. Site Development Costs (D04, line A-7-NEW) $ 2,917,864

2. Architect's Fees on the above

excludable costs $ 175,072

3. Vocational Projects Only - MovableFixtures & Equipment (D02, line C-3-NEW) $

4. Total Excludable Costs (B-1 plus B-2 and B-3) $ 3,092,935

C. ACT 34 MAXIMUM BUILDING CONSTRUCTION COST

(A minus B-4) $ 24,114,009IF THE MAXIMUM BUILDING CONSTRUCTION COST BASED ON BIDS IS EQUAL

TO OR GREATER THAN THE MAXIMUM BUILDING CONSTRUCTION COST BASED ON

ESTIMATES PLUS EIGHT PERCENT (LINE D), A SECOND PUBLIC HEARING WILL

BE REQUIRED BEFORE ENTERING INTO CONTRACTS AND STARTING CONSTRUCTION

ON ANY PLANNED WORK.

D. ACT 34 MAXIMUM BUILDING CONSTRUCTION COST

TIMES 1.08 (C times 1.08) $ 26,043,130

TABLE I

Montoursville Area School District Comparison of Various Methods of Financing

High School

General Local Costs Obligation Authority SPSBA Costs of Construction: High School (1) 35,374,250 35,374,250 35,374,250 Financing Costs: (2) Bond Discount 316,000 325,000 325,000 Legal Fees 150,000 175,000 160,000 Bond Insurance 95,000 115,000 115,000 Printing & Miscellaneous 26,250 30,000 25,000 Rating & CUSIP 34,000 45,000 45,000 Paying Agent 4,500 7,500 7,500 Total Requirements 36,000,000 36,071,750 36,051,750 Less: Interest Earned (3) 25,000 26,750 26,750 Size of Bond Issues 35,975,000 36,045,000 36,025,000

Montoursville Area


`

Table IIA Net Debt Service Total Mills Average Annual After State Mills Required Required for Direct Debt Service (1) Reimbursement (2) for Direct Debt and Indirect Costs $2,744,000 $2,493,500 3.29 Mills 3.2966Mills 1.90Mills (3) 1.9066Mills (3)

Montoursville Area School District TABLE IIBWraparound Debt StructureAct 34 Hearing: Millage Requirement Study - Series of 2015 - $10,000,000, Series of 2016 - $16,000,000, Series of 2017 - $9,975,000

Option 1 Wrap: $35,975,000

(0.20 Additional Mills, Use of Surplus,

16-Dec-14 6 Year Millage Phase-In)

Series 2015 Series 2016 Series 2017 Mills

Total Net $10,000,000 $16,000,000 $9,975,000 Less: Total Value of Total Available Total Budget

Outstanding Bond Issue Bond Issue Bond Issue Interest Earnings/ Net 1 Mill Mills New Mills from Prior Mills in Dollars Surplus

D/S (1) Net D/S (2) Net D/S (3) Net D/S (4) SD Reserves (5) Debt (6) Required Debt Place Appropriated (Deficit)

2015 2,013,256 0 0 0 2,013,256 757,400 2.66 0.360 2.85 3.21 2,431,254 417,998

2016 2,012,458 410,397 286,334 0 20,419 2,688,770 757,400 3.55 0.340 0.00 3.55 2,688,770 0

2017 2,012,021 378,828 687,201 165,096 312,008 2,931,138 757,400 3.87 0.320 0.00 3.87 2,931,138 0

2018 2,014,078 378,828 687,201 506,231 412,832 3,173,506 757,400 4.19 0.320 0.00 4.19 3,173,506 0

2019 2,015,255 378,828 687,201 509,911 175,321 3,415,874 757,400 4.51 0.320 0.00 4.51 3,415,874 0

2020 2,016,099 378,828 687,201 508,071 3,590,199 757,400 4.74 0.240 0.00 4.75 3,597,650 7,452

2021 2,014,713 378,828 687,201 505,863 3,586,605 757,400 4.74 0.000 0.00 4.75 3,597,650 11,046

2022 2,014,346 378,828 687,201 508,241 3,588,616 757,400 4.74 0.000 0.00 4.75 3,597,650 9,035

2023 1,622,544 378,828 687,201 899,953 3,588,526 757,400 4.74 0.000 0.00 4.75 3,597,650 9,125

2024 0 998,828 1,647,201 944,349 3,590,377 757,400 4.74 0.000 0.00 4.75 3,597,650 7,273

2025 0 999,980 1,648,217 940,201 3,588,398 757,400 4.74 0.000 0.00 4.75 3,597,650 9,253

2026 0 999,628 1,646,601 944,315 3,590,544 757,400 4.74 0.000 0.00 4.75 3,597,650 7,107

2027 0 997,782 1,652,358 936,683 3,586,823 757,400 4.74 0.000 0.00 4.75 3,597,650 10,828

2028 0 999,458 1,650,110 937,680 3,587,248 757,400 4.74 0.000 0.00 4.75 3,597,650 10,402

2029 0 999,431 1,649,953 936,939 3,586,322 757,400 4.74 0.000 0.00 4.75 3,597,650 11,329

2030 0 997,567 1,651,465 939,399 3,588,430 757,400 4.74 0.000 0.00 4.75 3,597,650 9,221

2031 0 998,877 1,649,435 939,721 3,588,032 757,400 4.74 0.000 0.00 4.75 3,597,650 9,619

2032 0 998,262 1,648,995 942,901 3,590,157 757,400 4.74 0.000 0.00 4.75 3,597,650 7,494

2033 0 1,000,743 1,644,951 943,801 3,589,495 757,400 4.74 0.000 0.00 4.75 3,597,650 8,156

2034 0 996,148 1,652,342 942,432 3,590,922 757,400 4.74 0.000 0.00 4.75 3,597,650 6,729

2035 0 999,628 1,645,382 943,815 3,588,825 757,400 4.74 0.000 0.00 4.75 3,597,650 8,825

2036 0 1,000,896 1,644,732 392,663 3,038,291 757,400 4.01 0.000 0.00 4.75 3,597,650 559,360

2037 0 0 0 0 0 757,400 0.00 0.000 0.00 4.75 3,597,650 3,597,650

2038 0 0 0 0 0 757,400 0.00 0.000 0.00 4.75 3,597,650 3,597,650

TOTAL 17,734,770 16,049,419 26,528,475 15,288,261 920,578 74,680,347 1.900

Fiscal Year

Ending June 30

Period Ending

Principal Coupon Interest Debt ServiceAnnual Debt

Service12/1/2015 220,983.00 220,983.00

6/1/2016 189,414.00 189,414.00 410,397.0012/1/2016 189,414.00 189,414.00

6/1/2017 189,414.00 189,414.00 378,828.0012/1/2017 189,414.00 189,414.00

6/1/2018 189,414.00 189,414.00 378,828.0012/1/2018 189,414.00 189,414.00

6/1/2019 189,414.00 189,414.00 378,828.0012/1/2019 189,414.00 189,414.00

6/1/2020 189,414.00 189,414.00 378,828.0012/1/2020 189,414.00 189,414.00

6/1/2021 189,414.00 189,414.00 378,828.0012/1/2021 189,414.00 189,414.00

6/1/2022 189,414.00 189,414.00 378,828.0012/1/2022 189,414.00 189,414.00

6/1/2023 189,414.00 189,414.00 378,828.0012/1/2023 189,414.00 189,414.00

6/1/2024 620,000 3.040% 189,414.00 809,414.00 998,828.0012/1/2024 179,990.00 179,990.00

6/1/2025 640,000 3.180% 179,990.00 819,990.00 999,980.0012/1/2025 169,814.00 169,814.00

6/1/2026 660,000 3.310% 169,814.00 829,814.00 999,628.0012/1/2026 158,891.00 158,891.00

6/1/2027 680,000 3.430% 158,891.00 838,891.00 997,782.0012/1/2027 147,229.00 147,229.00

6/1/2028 705,000 3.550% 147,229.00 852,229.00 999,458.0012/1/2028 134,715.25 134,715.25

6/1/2029 730,000 3.680% 134,715.25 864,715.25 999,430.5012/1/2029 121,283.25 121,283.25

6/1/2030 755,000 3.800% 121,283.25 876,283.25 997,566.5012/1/2030 106,938.25 106,938.25

6/1/2031 785,000 3.900% 106,938.25 891,938.25 998,876.5012/1/2031 91,630.75 91,630.75

6/1/2032 815,000 3.990% 91,630.75 906,630.75 998,261.5012/1/2032 75,371.50 75,371.50

6/1/2033 850,000 4.070% 75,371.50 925,371.50 1,000,743.0012/1/2033 58,074.00 58,074.00

6/1/2034 880,000 4.150% 58,074.00 938,074.00 996,148.0012/1/2034 39,814.00 39,814.00

6/1/2035 920,000 4.210% 39,814.00 959,814.00 999,628.0012/1/2035 20,448.00 20,448.00

6/1/2036 960,000 4.260% 20,448.00 980,448.00 1,000,896.0010,000,000 6,049,419.00 16,049,419.00 16,049,419.00

Dated Date 5/1/2015Delivery Date 5/1/2015

12/1/2015 220,983.00 220,983.006/1/2016 189,414.00 189,414.00 410,397.00

12/1/2016 189,414.00 189,414.006/1/2017 189,414.00 189,414.00 378,828.00

12/1/2017 189,414.00 189,414.006/1/2018 189,414.00 189,414.00 378,828.00

12/1/2018 189,414.00 189,414.006/1/2019 189,414.00 189,414.00 378,828.00

12/1/2019 189,414.00 189,414.006/1/2020 189,414.00 189,414.00 378,828.00

12/1/2020 189,414.00 189,414.006/1/2021 189,414.00 189,414.00 378,828.00

12/1/2021 189,414.00 189,414.006/1/2022 189,414.00 189,414.00 378,828.00

12/1/2022 189,414.00 189,414.006/1/2023 189,414.00 189,414.00 378,828.00

12/1/2023 189,414.00 189,414.006/1/2024 620,000 3.040% 189,414.00 809,414.00 998,828.00

12/1/2024 179,990.00 179,990.006/1/2025 640,000 3.180% 179,990.00 819,990.00 999,980.00

12/1/2025 169,814.00 169,814.006/1/2026 660,000 3.310% 169,814.00 829,814.00 999,628.00

12/1/2026 158,891.00 158,891.006/1/2027 680,000 3.430% 158,891.00 838,891.00 997,782.00

12/1/2027 147,229.00 147,229.006/1/2028 705,000 3.550% 147,229.00 852,229.00 999,458.00

12/1/2028 134,715.25 134,715.256/1/2029 730,000 3.680% 134,715.25 864,715.25 999,430.50

12/1/2029 121,283.25 121,283.256/1/2030 755,000 3.800% 121,283.25 876,283.25 997,566.50

12/1/2030 106,938.25 106,938.256/1/2031 785,000 3.900% 106,938.25 891,938.25 998,876.50

12/1/2031 91,630.75 91,630.756/1/2032 815,000 3.990% 91,630.75 906,630.75 998,261.50

12/1/2032 75,371.50 75,371.506/1/2033 850,000 4.070% 75,371.50 925,371.50 1,000,743.00

12/1/2033 58,074.00 58,074.006/1/2034 880,000 4.150% 58,074.00 938,074.00 996,148.00

12/1/2034 39,814.00 39,814.006/1/2035 920,000 4.210% 39,814.00 959,814.00 999,628.00

12/1/2035 20,448.00 20,448.006/1/2036 960,000 4.260% 20,448.00 980,448.00 1,000,896.00

10,000,000 6,049,419.00 16,049,419.00 16,049,419.00

Bond Debt ServiceMontoursville Area School District

Proposed GO Bonds, Series of 2015 ($10MM Wrap)


6/1/2016 286,333.54 286,333.54 286,333.5412/1/2016 343,600.25 343,600.25

6/1/2017 343,600.25 343,600.25 687,200.5012/1/2017 343,600.25 343,600.25

6/1/2018 343,600.25 343,600.25 687,200.5012/1/2018 343,600.25 343,600.25

6/1/2019 343,600.25 343,600.25 687,200.5012/1/2019 343,600.25 343,600.25

6/1/2020 343,600.25 343,600.25 687,200.5012/1/2020 343,600.25 343,600.25

6/1/2021 343,600.25 343,600.25 687,200.5012/1/2021 343,600.25 343,600.25

6/1/2022 343,600.25 343,600.25 687,200.5012/1/2022 343,600.25 343,600.25

6/1/2023 343,600.25 343,600.25 687,200.5012/1/2023 343,600.25 343,600.25

6/1/2024 960,000 3.540% 343,600.25 1,303,600.25 1,647,200.5012/1/2024 326,608.25 326,608.25

6/1/2025 995,000 3.680% 326,608.25 1,321,608.25 1,648,216.5012/1/2025 308,300.25 308,300.25

6/1/2026 1,030,000 3.810% 308,300.25 1,338,300.25 1,646,600.5012/1/2026 288,678.75 288,678.75

6/1/2027 1,075,000 3.930% 288,678.75 1,363,678.75 1,652,357.5012/1/2027 267,555.00 267,555.00

6/1/2028 1,115,000 4.050% 267,555.00 1,382,555.00 1,650,110.0012/1/2028 244,976.25 244,976.25

6/1/2029 1,160,000 4.180% 244,976.25 1,404,976.25 1,649,952.5012/1/2029 220,732.25 220,732.25

6/1/2030 1,210,000 4.300% 220,732.25 1,430,732.25 1,651,464.5012/1/2030 194,717.25 194,717.25

6/1/2031 1,260,000 4.400% 194,717.25 1,454,717.25 1,649,434.5012/1/2031 166,997.25 166,997.25

6/1/2032 1,315,000 4.490% 166,997.25 1,481,997.25 1,648,994.5012/1/2032 137,475.50 137,475.50

6/1/2033 1,370,000 4.570% 137,475.50 1,507,475.50 1,644,951.0012/1/2033 106,171.00 106,171.00

6/1/2034 1,440,000 4.650% 106,171.00 1,546,171.00 1,652,342.0012/1/2034 72,691.00 72,691.00

6/1/2035 1,500,000 4.710% 72,691.00 1,572,691.00 1,645,382.0012/1/2035 37,366.00 37,366.00

6/1/2036 1,570,000 4.760% 37,366.00 1,607,366.00 1,644,732.0016,000,000 10,528,475.04 26,528,475.04 26,528,475.04


Proposed GO Bonds, Series of 2016 ($16MM Wrap)

Period Ending


Service6/1/2016 286,333.54 286,333.54 286,333.54

12/1/2016 343,600.25 343,600.256/1/2017 343,600.25 343,600.25 687,200.50

12/1/2017 343,600.25 343,600.256/1/2018 343,600.25 343,600.25 687,200.50

12/1/2018 343,600.25 343,600.256/1/2019 343,600.25 343,600.25 687,200.50

12/1/2019 343,600.25 343,600.256/1/2020 343,600.25 343,600.25 687,200.50

12/1/2020 343,600.25 343,600.256/1/2021 343,600.25 343,600.25 687,200.50

12/1/2021 343,600.25 343,600.256/1/2022 343,600.25 343,600.25 687,200.50

12/1/2022 343,600.25 343,600.256/1/2023 343,600.25 343,600.25 687,200.50

12/1/2023 343,600.25 343,600.256/1/2024 960,000 3.540% 343,600.25 1,303,600.25 1,647,200.50

12/1/2024 326,608.25 326,608.256/1/2025 995,000 3.680% 326,608.25 1,321,608.25 1,648,216.50

12/1/2025 308,300.25 308,300.256/1/2026 1,030,000 3.810% 308,300.25 1,338,300.25 1,646,600.50

12/1/2026 288,678.75 288,678.756/1/2027 1,075,000 3.930% 288,678.75 1,363,678.75 1,652,357.50

12/1/2027 267,555.00 267,555.006/1/2028 1,115,000 4.050% 267,555.00 1,382,555.00 1,650,110.00

12/1/2028 244,976.25 244,976.256/1/2029 1,160,000 4.180% 244,976.25 1,404,976.25 1,649,952.50

12/1/2029 220,732.25 220,732.256/1/2030 1,210,000 4.300% 220,732.25 1,430,732.25 1,651,464.50

12/1/2030 194,717.25 194,717.256/1/2031 1,260,000 4.400% 194,717.25 1,454,717.25 1,649,434.50

12/1/2031 166,997.25 166,997.256/1/2032 1,315,000 4.490% 166,997.25 1,481,997.25 1,648,994.50

12/1/2032 137,475.50 137,475.506/1/2033 1,370,000 4.570% 137,475.50 1,507,475.50 1,644,951.00

12/1/2033 106,171.00 106,171.006/1/2034 1,440,000 4.650% 106,171.00 1,546,171.00 1,652,342.00

12/1/2034 72,691.00 72,691.006/1/2035 1,500,000 4.710% 72,691.00 1,572,691.00 1,645,382.00

12/1/2035 37,366.00 37,366.006/1/2036 1,570,000 4.760% 37,366.00 1,607,366.00 1,644,732.00

16,000,000 10,528,475.04 26,528,475.04 26,528,475.04

Period Ending


Service6/1/2017 165,096.25 165,096.25 165,096.25

12/1/2017 198,115.50 198,115.506/1/2018 110,000 1.200% 198,115.50 308,115.50 506,231.00

12/1/2018 197,455.50 197,455.506/1/2019 115,000 1.600% 197,455.50 312,455.50 509,911.00

12/1/2019 196,535.50 196,535.506/1/2020 115,000 1.920% 196,535.50 311,535.50 508,071.00

12/1/2020 195,431.50 195,431.506/1/2021 115,000 2.280% 195,431.50 310,431.50 505,863.00

12/1/2021 194,120.50 194,120.506/1/2022 120,000 2.740% 194,120.50 314,120.50 508,241.00

12/1/2022 192,476.50 192,476.506/1/2023 515,000 3.030% 192,476.50 707,476.50 899,953.00

12/1/2023 184,674.25 184,674.256/1/2024 575,000 3.330% 184,674.25 759,674.25 944,348.50

12/1/2024 175,100.50 175,100.506/1/2025 590,000 3.540% 175,100.50 765,100.50 940,201.00

12/1/2025 164,657.50 164,657.506/1/2026 615,000 3.680% 164,657.50 779,657.50 944,315.00

12/1/2026 153,341.50 153,341.506/1/2027 630,000 3.810% 153,341.50 783,341.50 936,683.00

12/1/2027 141,340.00 141,340.006/1/2028 655,000 3.930% 141,340.00 796,340.00 937,680.00

12/1/2028 128,469.25 128,469.256/1/2029 680,000 4.050% 128,469.25 808,469.25 936,938.50

12/1/2029 114,699.25 114,699.256/1/2030 710,000 4.180% 114,699.25 824,699.25 939,398.50

12/1/2030 99,860.25 99,860.256/1/2031 740,000 4.300% 99,860.25 839,860.25 939,720.50

12/1/2031 83,950.25 83,950.256/1/2032 775,000 4.400% 83,950.25 858,950.25 942,900.50

12/1/2032 66,900.25 66,900.256/1/2033 810,000 4.490% 66,900.25 876,900.25 943,800.50

12/1/2033 48,715.75 48,715.756/1/2034 845,000 4.570% 48,715.75 893,715.75 942,431.50

12/1/2034 29,407.50 29,407.506/1/2035 885,000 4.650% 29,407.50 914,407.50 943,815.00

12/1/2035 8,831.25 8,831.256/1/2036 375,000 4.710% 8,831.25 383,831.25 392,662.50

9,975,000 5,313,261.25 15,288,261.25 15,288,261.25


6/1/2017 165,096.25 165,096.25 165,096.2512/1/2017 198,115.50 198,115.50

6/1/2018 110,000 1.200% 198,115.50 308,115.50 506,231.0012/1/2018 197,455.50 197,455.50

6/1/2019 115,000 1.600% 197,455.50 312,455.50 509,911.0012/1/2019 196,535.50 196,535.50

6/1/2020 115,000 1.920% 196,535.50 311,535.50 508,071.0012/1/2020 195,431.50 195,431.50

6/1/2021 115,000 2.280% 195,431.50 310,431.50 505,863.0012/1/2021 194,120.50 194,120.50

6/1/2022 120,000 2.740% 194,120.50 314,120.50 508,241.0012/1/2022 192,476.50 192,476.50

6/1/2023 515,000 3.030% 192,476.50 707,476.50 899,953.0012/1/2023 184,674.25 184,674.25

6/1/2024 575,000 3.330% 184,674.25 759,674.25 944,348.5012/1/2024 175,100.50 175,100.50

6/1/2025 590,000 3.540% 175,100.50 765,100.50 940,201.0012/1/2025 164,657.50 164,657.50

6/1/2026 615,000 3.680% 164,657.50 779,657.50 944,315.0012/1/2026 153,341.50 153,341.50

6/1/2027 630,000 3.810% 153,341.50 783,341.50 936,683.0012/1/2027 141,340.00 141,340.00

6/1/2028 655,000 3.930% 141,340.00 796,340.00 937,680.0012/1/2028 128,469.25 128,469.25

6/1/2029 680,000 4.050% 128,469.25 808,469.25 936,938.5012/1/2029 114,699.25 114,699.25

6/1/2030 710,000 4.180% 114,699.25 824,699.25 939,398.5012/1/2030 99,860.25 99,860.25

6/1/2031 740,000 4.300% 99,860.25 839,860.25 939,720.5012/1/2031 83,950.25 83,950.25

6/1/2032 775,000 4.400% 83,950.25 858,950.25 942,900.5012/1/2032 66,900.25 66,900.25

6/1/2033 810,000 4.490% 66,900.25 876,900.25 943,800.5012/1/2033 48,715.75 48,715.75

6/1/2034 845,000 4.570% 48,715.75 893,715.75 942,431.5012/1/2034 29,407.50 29,407.50

6/1/2035 885,000 4.650% 29,407.50 914,407.50 943,815.0012/1/2035 8,831.25 8,831.25

6/1/2036 375,000 4.710% 8,831.25 383,831.25 392,662.509,975,000 5,313,261.25 15,288,261.25 15,288,261.25


Proposed GO Bonds, Series of 2017 ($9.975MM Wrap)

INDIRECT COSTS FOR RENOVATIONS/ADDITIONS TO HIGH SCHOOL

The following figures reflect anticipated changes in indirect costs for the proposed High School Project. Since the High School will remain at the existing site with renovations and additions, the Indirect Costs associated with the Project are minimal. In assessing potential increases in related costs, the following categories were studied. PERSONNEL: Current teaching staff, instructional assistants, and office staff will be sufficient to meet anticipated needs unless any program changes are made and/or if significant growth in student enrollment occurs. MATERIALS & SUPPLIES: No additional costs are anticipated unless program changes are made and/or if significant growth in student enrollment occurs. COST OF FUEL & UTILITIES: No additional costs are anticipated and with updated systems there could be energy savings. BUILDING OPERATION & MAINTENANCE: Increased costs for maintenance supplies for the building will be approximately the same as current budget. PUPIL TRANSPORTATION: No changes in pupil transportation costs are anticipated as a result of the Project. INSURANCE PREMIUM: The increase in insurance premium to cover the Project is estimated to be $5,000 per year.

TOTAL ANNUAL INDIRECT COSTS: $ 5,000 VALUE OF ONE MILL $ 757,400 MILLAGE IMPACT INDIRECT COSTS: 0 .0066 Mills

Act 34 Maximum Building Construction Cost

Maximum Total Project Cost

Be it resolved that the Board of School Directors of MONTOURSVILLE AREA SCHOOL DISTRICT approves the maximum building cost and maximum project cost listed below. Be it further resolved that the following costs have been estimated: Act 34 Maximum Building Construction Cost (new areas of building only) $ 24,114,009 (Includes: Structure Cost, Architect’s Fee, Moveable Furniture & Equipment less Site Development Costs and Architect’s Site Design Fee.) Other Project Costs (renovation costs, site costs, and soft costs) $ 11,885,991

Maximum Project Cost $ 36,000,000 Project Credits State Reimbursement Estimate $ (3,300,000)

Montoursville Area


`

Montoursville Area


`

PUBLIC HEARING NOTICE Please take notice that a public hearing will be held at the Montoursville Area High School Auditorium, 100 N. Arch Street, Montoursville, PA 17754 on Tuesday February 24, 2015 at 7:30 p.m. for the purpose of reviewing relevant matters relating to the additions to and renovations of the Montoursville Area High School (the "Project"). A description of the Project, including facts relative to educational, physical, administrative, budgetary and fiscal matters of the project, will be presented and will be available for consideration at this public hearing. Beginning Tuesday, February 3, 2015 a project description booklet will be available for review during business hours (8:00 am to 4:00 pm) at the Montoursville Area School District Offices at 100 N. Arch Street, Montoursville, PA. The Board of School Directors of the Montoursville Area School District has adopted, by resolution, the following costs in connection with this project: Act 34 Maximum Building Construction Cost (new areas of Building only) $ 24,114,009 (Includes: Structure Cost, Architect’s Fee, Moveable Furniture & Equipment less Site Development Costs and Architect’s Site Design Fee.) Other Project Costs (renovation costs, site costs, and soft costs) $ 11,885,991 Maximum Project Cost $ 36,000,000 Project Credits State Reimbursement Estimate $ (3,300,000) This public hearing is being held pursuant to the requirements of PA Public School Code of 1949, approved March 10, 1949, as amended and supplemented, including amendments made pursuant to Act 34 of the session of 1973 of the General Assembly. Interested parties that want to be placed on the public hearing agenda may submit their names to the District Office (address listed above) until 12:00 noon on Tuesday February 24, 2015. Additional testimony will be received from the floor at the hearing. Any and all interested parties may appear at and attend the public hearing and may be heard at such public hearing, (one person, one comment at a time, five minute limitation per individual), and/or may submit written testimony to the Secretary of the School Board of Directors at the District Office (address l isted above) until 12:00 noon, 30 days after hearing, on Thursday, March 26, 2015.

Montoursville Area High School - Deficiencies

Significant deficiencies identified at the Montoursville Area High School include the following:

Some Educational Spaces are too small ClassroomsScience labsBand and Choral roomsAuditorium/StageFamily and Consumer ScienceFitness CenterGuidance facilities

Inadequate quantity of Educational SpacesScience labs

Some spaces don't existNo central gathering/reception space for large groups ( lobby, commons, etc.)Community spacesSpecialized art facilitiesBlack Box Theater

Building OrganizationMajor public spaces are not controlled from one area (gym, auditorium, cafeteria )Location of classrooms makes department organization difficult

Safety and Security compromisesNumerous entrancesInternal high school office minimizes view to exterior

CorridorsSpaces utilitarian and lack legibility Too narrow in some areasIntersections are too small and interfere with efficiencyNo daylight in most areas

Building InfrastructureDoors difficult to maintain due to wood framing seasonal movementWood framing renovations possible but expensiveHVAC system replacement recommendedPlumbing system replacement recommendedReplace portions of electrical system

Existing Conditions

Significant deficiencies identified at the Montoursville Area High School include the following:

Some Educational Spaces are too small ClassroomsScience labsBand and Choral roomsAuditorium/StageFamily and Consumer ScienceFitness CenterGuidance facilities

Inadequate quantity of Educational SpacesScience labs

Some spaces don't existNo central gathering/reception space for large groups ( lobby, commons, etc.)Community spacesSpecialized art facilitiesBlack Box Theater

Building OrganizationMajor public spaces are not controlled from one area (gym, auditorium, cafeteria )Location of classrooms makes department organization difficult

Safety and Security compromisesNumerous entrancesInternal high school office minimizes view to exterior

CorridorsSpaces utilitarian and lack legibility Too narrow in some areasIntersections are too small and interfere with efficiencyNo daylight in most areas

Building InfrastructureDoors difficult to maintain due to wood framing seasonal movementWood framing renovations possible but expensiveHVAC system replacement recommendedPlumbing system replacement recommendedReplace portions of electrical system

Existing Conditions

Documents

Montoursville Area High School – Additions and Renovations Act 34 Public Hearing February 24, 2015