Refinancing the debt on the Mackinac Island Public School gymnasium construction bond is estimated to save about $70,000 over the next nine years, said Superintendent David Waaso, who is working with the school's bonding company, Stauder, Barch and Associates of Ann Arbor, on the project. The school board, which was updated on the progress at its meeting Thursday, January 21, now plans to finalize the process at its February meeting.

In December, interim Superintendent Michael Bootz began the refinancing work on the school's gymnasium construction bond issued in 2000. The original bond was for $2,840,000 with an interest rate that vares from year to year from 4.1% to 4.3%, said Mr. Waaso. Refinancing will take advantage of lower interest rates in the bond market and is expected to range from 1.5% to 4%.

The term of the bond, which runs until 2019, will not change, although the debt payment will be reduced each year.

"It won't be paid off any sooner," said Mr. Waaso, but with lower interest, "it will be just a little less out of everyone's pocket to pay it off over the next nine years."

With the closing of the Catholic Charities office in Sault Ste. Marie January 31, the school approved a contract with Janet Couch to serve as a therapist and counselor at the school. Previously, she had provided services to the school through the agency.

Catholic Charities announced in December the poor economic climate made it necessary to close offices in Houghton, Ironwood, Iron River, and Sault Ste. Marie. Offices in Escanaba, Iron Mountain, and Marquette remain open.

Mr. Waaso said the School Improvement Committee continues to work on its improvement plan, which is due to the state in March.

School seniors recognized the contributions of the school board by giving sweatshirts to Sara Chambers, Leanne Brodeur, and Terry Andress. Hats were given to board members Larry Rickley, Ben Mosley, and Jason St. Onge. Board member Kelly Bean was absent. Making the presentation as part of school board appreciation month were seniors Jane Finkel, Paul Fisher, Tymon Horn, Holly Leedke, and Thomas Rilenge. Senior Shelbie Mosley was absent. Mr. Waaso also presented the board with a plaque of recognition to hang in the school library.

Spelling bee winners will compete in St. Ignace Thursday, February 4, said Mr. Waaso. Winners were seventh grade students Kyle Shunk, overall winner at the school, and Kyra Kolatski, fifth grade students Christian Styburski and Christopher Riggs, sixth grade student Molly Tokarz, and eighth grade students Adrienne Rilenge and Halee Tokarz.

The school board next meets Thursday, February 18, at 6 p.m. in the school library.