Gasconade County R-2 Board of Education directors on Oct. 2 reviewed the district’s bonding capacity with STIFEL. Administrators will meet Oct. 20 to review community-submitted priority projects and decide whether to place a no-tax-increase bond issue on the April 2026 ballot.

Superintendent Dr. Jeri Kay Hardy said the board heard three bonding options from STIFEL, the district’s underwriter.

“STIFEL came in and presented the financials to run a bond issue,” Hardy said. “The board reviewed bond projects. No final votes about the bond issue were made.”

According to the presentation, the district is healthy financially and can afford to borrow to complete capital improvements.

“We can bond, according to STIFEL, about $28 million, which we would never do,” Hardy said. “We would be very comfortable at $20 million, but the board isn’t looking at $20 million. I’m not sure how much they are looking at. Maybe $14 million to $19 million, depending on the projects. We are still staying with the No Tax Increase Bond Issue, and we would just extend those out.”

The district will have $2,235,000 in outstanding debt as of April 2026, according to the report.

According to STIFEL, the district’s Option One is to borrow $7.5 million. The bond would come with a $1,157,417 interest rate and increase the debt to $8,657,417 with a five percent interest rate and a March 2032 maturity date.

Option Two is for $12 million with a five percent interest rate or $4,417,667 over the life of the bond. It would raise the district’s total debt service to $16,417,667, with a maturity date of March 2041.

Option Three outlines the district bonding $20 million with a five percent interest rate at $12,092,611 total. It would raise the district’s total debt service to $32,092,611 with a March 2046 maturity date.

“To run a bond issue for construction projects such as connecting buildings or things of that nature, we could run up to a $28 million No Tax Increase Bond Issue based on the state’s limits,” she said. “However, to continue to be conservative, they could run a No Tax Increase Bond Issue up to $19 Million, and it would extend the debt out, but would not raise the amount taxpayers pay per year. It would keep the debt service levy at 67 cents per $100 of assessed valuation.