Weeping Water Public Schools

Bond Information

The Weeping Water Public Schools Board of Education approved a resolution calling for a patron vote on a bond issue not to exceed $5,875,000 to repair and replace the current HVAC system with a geothermal HVAC system. The vote is scheduled for April 15th using mail-in ballots.

PROJECT OVERVIEW

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What's The Plan?

  • Replace the defective HVAC system with a geothermal HVAC system.

    • Build an external well field of 160 wells at the practice football field

    • Install new heat recovery units, piping, and a boiler

    • Utilize existing internal fan coils

WHY IS THIS PROJECT NECESSARY?

WHY GOETHERMAL?

  • Unmatched Longevity:
    The system boasts a wellfield with a life expectancy of over 50 years—far surpassing traditional systems. This long-term reliability means fewer replacements, lower maintenance costs, and consistent performance for decades.

  • Dependable Components:
    Complementing the robust wellfield, the heat pumps are built to last 20–25 years. This reliable performance ensures that the schools will enjoy efficient climate control throughout the lifespan of the system, reducing the worry of premature equipment failure.

  • Significant Cost Savings:
    One of the most compelling benefits is the estimated 30–40% reduction in utility costs. This would save the district between $25,000 and $30,000 each year in utility costs. These savings can substantially impact the school district's operating budget, freeing up funds that can be reallocated to improve educational resources and infrastructure.

  • Attractive Financial Incentives:
    Under the Inflation Reduction Act, this project qualifies for a 30% credit, estimated to be between $1.2 million and $1.4 million. Such a credit not only improves the project's financial feasibility but also opens up possibilities for reinvestment. The district could channel these funds into upgrading classroom technology, renovating facilities, or further enhancing energy efficiency measures—initiatives that directly benefit students and staff.

FINANCIAL IMPACT

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GENERAL OBLIGATION BOND

Bond Amount not to exceed
$5,875,000

Projected Interest Rate
4.00%

Bond Repayment Term
15 years

Estimated Bond Levy (CURRENT & NEW Bonds)
$0.259 per $100 of Valuation

IMPORTANT NOTES

  • The levy or repayment term may be reduced by valuation growth in the community or refinancing bonds to get a more favorable rate.

  • Due to changes in recent state law, AGRICULTURAL LAND in NEW bond issues is valued at a lower rate than in past bonds.

  • Click the "FINANCIALS" button below for more information, including estimated tax impact figures for home and landowners.

LEARN MORE

BOND INFORMATION MEETINGS

March 14, 2025 @ 6pm

School Lunch Room

March 17, 2025 @ 6pm

School Lunch Room

March 27, 2025 @ 6pm

School Lunch Room