Bond

UPDATE AS OF September 1, 2021
Spinal Column Article

Update May 6, 2021
WLCSD hosted a limited in person Groundbreaking Ceremony for the new Dublin Elementary School.

Superintendent Kenneth Gutman welcomed those attending the groundbreaking, saying, “We are ready to start anew and continue a legacy of excellence in elementary education for Walled Lake Schools and for the Dublin Elementary community. We are indebted to Jeff Drewno, former Dublin Elementary principal, for all of the work he did in the preliminary meetings, design of the building, collaboration with the Dublin staff to select the interior colors and finishes of the building, and his dedication to the Dublin Elementary community.”

Watch the ceremony 
Spinal Column Article

UPDATED Six-Year Schedule for the 2019 Bond – February, 2021
 Building, Infrastructure & Equity Bond 2019 Completion Dates
Walled Lake Schools’ Building, Infrastructure and Equity Bond work progressing (Spinal Column Article)

UPDATE AS OF October 28, 2020

Some 30 people gathered to officially break ground for the Walled Lake Schools Early Childhood Center (ECC) that will open in the 2022-23 school year.

 "At a time when so many are experiencing the challenges of the global pandemic, Walled Lake Schools is grateful to be able to look toward our future, and plan to serve our early learners in a state-of-the-art facility. We thank our community for overwhelmingly passing the May 2019 bond that paves a bright future for our children," Ken Gutman, superintendent, said.

Bill Chatfield, director of Operations, noted that the site, near the intersection of Meadowbrook and 13 Mile was purchased with bond funds from the 2000 bond. This facility has been in the making for more than 20 years and we are proud to be building a facility to accommodate our vision for the future.

The ECC is designed by TMP Architecture, Bloomfield Hills, and constructed by Auch Construction, Pontiac, who had several employees in attendance. Lastly, Auch noted that the WLCSD Board recently approved more than 400 contracts to make this a reality.

Watch the ceremony
C & G News Article
Spinal Column News Article
Bond Sale Jan. 2021

UPDATE AS OF September 10, 2020
Bond Update Presentation

Mr. William Chatfield, Operations Director, presented to the BOE the progress and status of phase 1 of the 2019 Building, Infrastructure, and Equity Bond construction that took place this summer and provided a review of the phase 2 projects. The phase 1 bond schools included, Commerce, Glengary, Walled Lake, and Wixom Elementary Schools.

Construction and renovation projects included replacement of insulated siding, windows, ceilings, LED lighting, and carpet. The replacement of roofing at Wixom and Commerce Elementary and parking lot resurfacing/replacement at Commerce and Glengary Elementary. Restroom renovations were completed at all four Elementary Schools. Storage enhancements were improved by new fixtures, furnishings, and flexible furniture. Other projects included the replacement of chillers and boilers at Geisler in addition to three of the four elementary schools, and several air handlers were replaced. Additionally, an electric car charging station was installed at each of the Bond schools. The installation of water and sewer was completed at Glengary Elementary school with the abandonment of the existing well. Media center roofs were installed at all phase 1 bond schools, including other media center roofs replaced at Loon Lake, Keith, and Mary Helen Guest Elementary Schools.

There is still work continuing at our schools. Construction challenges were abundant during the pandemic due to shipping and labor problems.

Clifford Smart, Sarah Banks, and Walnut Creek Middle Schools. The bid process will begin over the next six weeks with the continuation of the bid process for Dublin Elementary and Walled Lake Western High School.

The 2019 Building, Infrastructure, and Equity Bond project is a six-year, multi-faceted project with five years remaining. Mr. Chatfield shared that each project has six phases: schematic design, design development, construction documents, bidding and award, furniture installation, and construction.

The remaining schedule and project years were outlined in the presentation. Mr. Chatfield shared that the District will be ready for buildings to open even with the delays with construction due to the pandemic.

UPDATE AS OF December 5, 2019
Board of Education Bond Update

UPDATE AS OF August 23, 2019

The Board of Education reviewed the schedule, timeline and project completion dates that are outlined in this Building, Infrastructure, and Equity Bond presentation, at their Thursday, Aug. 22 Board of Education meeting. Each project has six phases: schematic design, design development, construction documents, bidding and award, furniture installation and construction. Walled Lake Schools appreciates the community support of this six-year, multi-faceted program. Please take a moment to review this presentation and send any questions you may have to info@wlcsd.org.

Bond Update Presentation

UPDATE AS OF June 13, 2019

The Board of Education of Walled Lake Consolidated School District is proud to announce the successful sale of its 2019 School Building and Site Bonds in the amount of $54,420,000 as authorized by the voters of the School District on May 7, 2019.  The 2019 School Building and Site Bonds, representing the first series of bonds pursuant to such voter authorization, will be used for the purpose of erecting, completing, equipping and furnishing a replacement elementary school, a new early childhood center facility, an addition to the Western High School building, athletic team rooms and additions to existing school buildings and other facilities; remodeling, equipping, re-equipping, furnishing, re-furnishing school buildings, athletic fields, playgrounds and other facilities to create a modern learning environment for students and for other purposes; acquiring and installing instructional technology infrastructure and equipment in school buildings and other facilities; and preparing, developing and improving sites at school buildings and other facilities and the purchase of school buses, and to pay the costs of issuing the Bonds.

In preparing to sell the 2019 School Building and Site Bonds, the School District, working with their municipal advisor, PFM Financial Advisors LLC, requested that Moody's Investors Service, a division of The McGraw-Hill Companies, Inc. ("Moody's") evaluate the School District's credit quality.  Moody's assigned the School District the outstanding underlying rating of "A1".  The rating agency cited the School District's large and growing tax base with above average resident income levels and solid management that has a demonstrated willingness to make expenditure reductions in their rationale for rating of the School District at this level.

“With this first bond sale, Walled Lake Schools is poised to begin the planning for the bond projects to improve our schools for our community. I thank Teri Les, assistant superintendent of Business Services for her work with our financial experts to ensure this first bond sale went smoothly.”

The School District's financing was conducted by the Michigan investment banking office of the brokerage firm, Stifel, the municipal advising firm, PFM Financial Advisors LLC and the law firm serving as bond counsel, Miller, Canfield, Paddock and Stone, P.L.C.  The School District's 2019 School Building and Site Bonds were sold at a true interest rate of 3.50% with a final maturity of 2049 (a repayment term of approximately 30 years).

Brodie Killian, Managing Director with Stifel states, "Walled Lake Consolidated School Districts’ Bonds were sold at an opportune time in the bond market. The District was able to enter the bond market after a recent decline in interest rates. The financing met the goals of the District and resulted in a cost of borrowing that was considerably lower than originally anticipated."

UPDATE AS OF MAY 23, 2019

At the Thursday, May 16, 2019. Board of Education meeting, the Board approved both the architectural company and construction management company as well, the tentative closing of the first series of bonds in June of 2019 with planning to begin in July of 2019.