The Mackinac Island school millage will be decreased slowly over the next nine years with a refinancing of a 1998 gymnasium construction bond. A decision to refinance was reached during the school board's meeting Thursday, February 28, and is the first major management project completed by new Superintendent David Waaso, who began work here in January. The process was started in December by interim Superintendent Michael Bootz.

By refinancing, taxpayers will save $69,363 over the life of the bond, which matures in May 2019. Beginning next year, residents are expected to see a reduction in the 1.15 mill levy.

“It's good from the standpoint of our community that we were able to save about $70,000 and use local banks,” said Mr. Waaso.

The school is working with First National Bank of St. Ignace and Central Savings Bank of Sault Ste. Marie, which will purchase the bonds. Both banks have offices on Mackinac Island.

The new interest rate will fluctuate year to year between 1.5% and 4%, compared to the old rate that varied from 4.1% to 4.3% on the original financing of $2,840,000.

The school's financial advisor was Stauder, Barch and Associates of Ann Arbor.

The school board will evaluate the new superintendent in June.

“It will give them a chance to see what I've done and see how the year's going,” Mr. Waaso said.

He has given the board an evaluation form recommended by the Michigan Association of School Boards and the board is reviewing that and the evaluation form it has used in previous years. The new form includes rating the superintendent on his relationship with the board, the community, and staff. Also considered is financial oversight of the school budget. Discussion of the evaluation form is expected to continue at the March meeting. The June evaluation of Mr. Waaso will serve as a six-month review with an annual review performed in March thereafter.

The board is expected to recommend a senior class trip destination at the March meeting, from a list provided by Jane Finkel, representing the six senior class members. The class had suggested locales in the Bahamas and the United States.

The board will send a certificate of appreciation to Roy Bessell, Jr., Douglas Horn, Cory Kaminen, and Paul Wandrie, Sr. of Chapman St. Onge Dankowski American Legion Post 299 of Mackinac Island for taking “special time to show our students a personal appreciation for our military.” In November, the men instructed students on the care, history, and symbolism of the American flag and gave them backpacks printed with the name of an Island veteran.

The board next meets in the school library Thursday, March 18.