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APS OKs $7M in new bond debt

Energy savings to cover bond cost, superintendent says

ALPENA — The Alpena Public Schools Board of Education recently agreed to sell a little over $7.1 million in bonds to raise money for energy efficiency and other improvement projects.

The board intends to contract with Trane Technologies to complete the work, but held off on allowing the superintendent to sign that contract until it is finalized.

The district will repay bond-buyers with general fund money, but Trane guarantees savings on the district’s energy bills will cover the $7.1 million cost, Superintendent John VanWagoner said.

Should the district not save the full amount, Trane would be required to pay the difference.

VanWagoner told trustees the new bond debt will allow the district to fix leaky faucets and toilets and upgrade lighting and heating and cooling systems, among other projects not covered by $33.9 million in bond sales voters approved in March.

VanWagoner said every building in the district will benefit from the upgrades, including the district’s central office and transportation building.

“It allows us to do a lot of maintenance-type things that haven’t been done in the past under a state program that pays for itself,” he said.

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