The Mars Area School Board continues to move forward with preparing for an expansion project at their elementary school.
After a presentation by their investment banker and bond council, board members unanimously approved a resolution to appoint and authorize actions by those professionals to begin the process to secure bond funding. This is no cost to the district.
Mars currently has an A plus stable bond rating and is considering a $10 million bond issue this year before the financial uncertainty of the presidential election in the fall. They would then likely issue another bond for the same amount next year with the advantage that two smaller bonds allow for lower interest rates as well as a more favorable tax situation. The board could also wait until next year to take the first bond and then take the second early in 2026.
This $24 million project includes a new wing at the elementary school. Once completed, the new facility would house kindergarten through third grade students.
The next step of this process will see the Mars board hold a special public meeting the morning of July 30th to approve an architect contract with one of three firms under consideration.