Mitchell Technical Institute may soon be able to fund a number of capital projects if a $300,000 loan agreement is approved by the Mitchell Board of Education.
That prospective 0 percent interest loan will be discussed at 5 p.m. Wednesday during the board's meeting at the Mitchell Career and Technical Education Academy.
The projects intended to be addressed by the loan would include the expansion of MTI's welding and commercial labs, remodeling the maintenance lab, upgrading wireless technology and updating the Center for Student Success, Technology Center classrooms and Oak Room.
The proposed two-year loan would be provided by Central Electric Cooperative, which would receive the funding from the USDA's Rural Electric Economic Development fund.
The Mitchell School District would make principal payments annually to Central Electric, and no collateral would be necessary, as the proposed loan is unsecured.
The loan would allow the district to borrow $300,000 for two years and could be renewed for up to four additional two-year periods.
According to the Board of Education's agenda for Wednesday's meeting, the board will consider requests for loans from Central Electric to pay for other capital projects.
Consent agenda, personnel
The consent agenda includes the following personnel changes.
• New classified hire: Rick Hornaman, K-12 maintenance.
• Resignation: McKenzie Johnson, guidance counselor, Gertie Belle Rogers.
In other matters, the board will consider:
• Approving May 28 and 29 as make-up days for the current school year.
• Approving a tentative master agreement for 2017-20 with the Mitchell Education Association.
• Accepting a bid for a food service freezer/cooler and construction of a wall.
• Approving on second reading a revision to the board's Tobacco Free School's policy.
• Board member and superintendent reports.