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When their next tax bills arrive, Alba Public Schools taxpayers, will feel the benefits of a bond refinancing, which will save district taxpayers about $200,000 over the remainder of the districtÕs 1998 bond. It was approved to construct the new high school and modernize other district buildings.

School board president James Jewell said since interest rates were down, board members managed to receive a great deal on the bonds.

"We also saved the taxpayers some money and that is a good thing," he said.

The bid opening, which occurred in Detroit, will mean the district will save about $199,712 over the life of the bond, set to expire in 2024. Five bids were opened on the bond, with the lowest one coming in at an interest rate of 3.97 percent.

Ò"By adopting this resolution tonight, that means the board approves the bond sale and the bonds will be sold tomorrow,Ó"district Supt. Jeff DiRosa said.

The cost also includes the costs necessary for the bond agent, the bank of New York Trust Company and the escrow and verification agent, which was Grant Thornton of Minneapolis.

In a related matter, board members accepted a three-year bid from Thomas Zick for the districtÕs annual audit. Zick, who has performed the audit before, bid $6,200 for the project. DiRosa said five bids were received and the auditor who did the work last year did not submit a three-year bid, only a cost for one year.

In other business, members: ¥ Learned the April and May board meetings were rearranged. AprilÕs meeting will be April 16, which was delayed one week due to spring break and the May board meeting will be May 21, due to a requirement put forth regarding the Intermediate School District elections.

¥ Authorized DiRosa to solicit bids, with an April deadline, for upgrades to the schoolÕs computer networks. The bids will include the costs for the servers and related hardware and software and new computers for the high school media center. Present computers there will be relocated to the elementary and those older computers will be disposed of. Some of the computers are between seven and nine years old, DiRosa said. According to his proposed timeline, bids are due in April, he expects to order the machinery in May and the computers will be installed over the summer in time for an August school opening.

¥ Learned, as of right now, the district is $40,000 in the black with their budget. Last monthÕs bills were high due to several insurance payments, the cost of propane and fund payments for students attending the alternative high school. DiRosa said a proposed state cut could still come and several other modifications to the budget will be necessary before school ends.