Acting on a recommendation from its financial institution, L.J. Hart and Co., board members approved a bond refunding proposal package last Thursday which will enable the district to be ready for two anticipated construction projects that could be needed as soon as the 2010-11 school year. Those projects include a $5.5 million addition to the existing Wright City High School and a $3 million wing to the district's newest elementary school which is currently under construction. "In reviewing the financial status and the current state of the economy, the conditions appear to be favorable for this refunding," said Heather Mudd, L.J. Hart vice president. Mudd told school board members they would realize a savings of 1.5 percent on school construction bonds originally issued in 2002. "Considering your cash flow, your total fiscal year debt service and the projected balance, the timing for this move is very good," she said. Mudd added the bond refunding process would help increase the district's capacity for issuing and/or refinancing additional bonds in the future. "This is the preliminary work which will set the district up to have the financial flexibility it needs in the future," she said. Dr. Mark Porter, Wright City superintendent, told board members the need for additional space in each facility could be directly linked to the district's bonding capability. "We're at the end of our bonding capacity currently," said Porter, "which is why I am recommending this proposal to the board. "It would allow us future room for another bonding issue down the road," he added. Mary Groeper made a motion to approve Porter's recommendation. Gina Allen seconded. The motion passed by a 7-0 vote. Porter, who is retiring on June 30, said he had reviewed the proposal from L.J. Hart with incoming Superintendent Chris Gaines who is "fine with it." Gaines will take over as superintendent July 1. The expansion project at Wright City High School will include new classroom space, air conditioning for the entire building and a new band room, among other components. The as-yet unnamed elementary school, located off Cotton Road near Foristell, is expected to be ready to open in August of 2009. It will initially house approximately 225-250 students in one wing. District officials anticipate they might need a new wing within two years of opening the facility, boosting its capacity to nearly 500 students. The new wing would roughly double the number of classrooms for students in grades kindergarten through five. "It's important to be thinking about the future in a proactive way," Porter explained. "The need is nearly upon us." Porter said he anticipates the total of $8.5 million in projected costs would most likely be in the form of a no-tax-increase bond issue placed before city voters. Wright City voters approved a $12.25 million, no-tax increase bond issue, by nearly a 2-to-1 margin in November of 2006. That money was used primarily to fund the building of the new elementary school.