The Mineral Point School Board held a very brief special meeting the morning of Monday, July 27 and took action on two items. 

Present were Larry Dolphin, Matt Lindsey, Julie Stephenson, Lisa Hay over the phone, and Jeff Basting. Absent were Glenn Kinch and Larry Steffes.

The District recommended awarding Farmers Savings Bank as the vendor bank for a line of credit for the purposes of making payroll between state aid payments.  The loan amount will be $1,500,000 with a maturity date of August 15, 2016.

The line of credit was .95%, the same rate as the district had last year. Superintendent Francois said the district primarily needs this money in August while it is waiting for its first state aid payment.

Board member Lindsey asked how many times per year during last school year the district tapped into these funds and Francois reported maybe a half dozen times.

He added the district can bid this out again next year, as it does every two years.

The line of credit passed unanimously.

The second item was approval of Molly Uppena as high school English teacher.

This also passed unanimously.

The next regularly scheduled school board meeting is set for Monday, August 10 at 6:30 pm.