The results of an online auction for the Panther Valley School District's general obligation bonds are in and the news is good.

The competitive sale, which was recommended to the district by Jamie Doyle, Public Financial Management, at last month's meeting, was held Thursday morning. Doyle recommended the sale of the bonds due to the fact that interest rates are approaching all-time low rates.Thirty-two bids were received for the bond series. Doyle said that "eyeballing the numbers," the district's old rate on the 2006 series bonds was a little over 4 percent. The new rate is 3.15 percent.The district had authorized Doyle to proceed with the sale if a 2 percent savings could be reached. When the dust settled, the district had realized a savings of 3.86 percent, almost double the goal, which will result in a savings of approximately $364,000 to the school district for the 2011-12 school year."That's three mill in taxes," said business manager Kenneth Marx, Jr., after the meeting.Doyle complimented the district on maintaining its excellent credit rating, which she said was a key factor in helping the district get the lower interest rates. "It's pretty impressive in this environment. You've stood your ground and maintained that rating," she said.Bank of New York Mellon Capital Markets was the successful bidder for the 2011 series bonds. The resolution to refund the bonds was passed unanimously, although director Mickey Angst initially balked at having to vote on the resolution which was 44 pages long, based on the fact that he had not been given enough time to thoroughly review it.Superintendent Rosemary Porembo announced that the district has received a $5,000 grant from Verizon, which will be put toward the 100 book challenge to purchase additional books that have been torn or damaged."Each student is required to read 15 minutes at home nightly," she said, "we need to supply them with about four books a night."The use of district facilities by outside organizations continued to be a debated item. Several representatives from community organizations including Summit Hill softball, the Panther Valley Youth Soccer Association, and the CYO program addressed the board, requesting that use of facility fees not be charged or kept to a minimum."I don't believe we should make it difficult for these organizations to use these facilities," said Angst. "We are discouraging the use by charging them.""As a sign of good faith, Panther Valley Youth Soccer would like to pay up to $1,500 a year to help maintain the grass at the middle school field," said Ron Reis, the president of PVYSA.Ultimately, the board voted to rescind the agenda item from May that cut the maintenance of the middle school athletic fields and voted to approve maintenance, limited to the cutting of the grass, not to exceed $1,500. Organizations will be required to complete a use of facilities agreement with the district and provide security for home games or meets. Security will not be needed for practices.The board voted to approve the first reading and revision of the dress and grooming policy. According to Porembo, the changes include, "no more silly bands, no gel bands or rubber bands, the addition of gray to sneaker color, the shoelaces would be the same as the dominant color of the shoe, and not wearing hair that impedes visions."Resident John Barna advised the board that he had heard from what he called a "reliable, honest person," that two people who were "very well organized in the Panther Valley School District" received "presents" from contractors that did business with the district in relationship to the Schneider electric project."These are pretty big charges," said board President Jeff Markovich. Barna declined to say any names during the public meeting and the board adjourned in to executive session to further discuss the allegations. No comment was made regarding the matter when the board returned from executive session.In other business, the board accepted the resignation for the retirement of Virginia Williams, middle school special education teacher, effective at the end of the 2010-11 school year. Carol Juracka also resigned as a substitute cafeteria aide. Shelly Sassaman, PA-C-CDE, Dr. Peter Baddick,

B.S.B.S. D.O. MBA, and Ron Slivka, MSN, BNp_BC, were all approved as school physicians for the 2011-12 school year at a stipend of $2,000 each. Dr. Richard Vermillion was approved as the school dentist at a stipend of $600 for the 2011-12 school year. Carrie Selinko was approved as the elementary school health room associate for the 2011-12 school year at a salary of $31,000.Herbert Whilden was approved as the junior high girls basketball coach at a stipend of $1,300 for the 2011-12 season. Raymond Bressi and Elizabeth Wehr were reappointed as high school and middle school disciplinarians, respectively, at salaries of $22,000 for the upcoming school year. Mary Ann Holovack was approved to continue as the nonpublic school reading teacher at an hourly rate of $30 for 15 hours per week. Robert Thomas was transferred from high school physical education teacher to elementary school physical education/health teacher, effective at the start of the school year.The board approved a request from the borough of Coaldale to forgive delinquent real estate taxes on a property to be demolished at 119-21 Greenwood Street in Coaldale.A motion to approve the 2011-12 contract for Major Ken Markovich, JROTC senior Army instructor died for a lack of a second. The board heard from Robert Graver, who had been instrumental in bringing JROTC to the Panther Valley in the 1970s."I did the leg work and I brought JROTC to Panther Valley," said Graver. "In 1993, after I retired from the Army, I returned to the community and I observed just how financially you people were out of line with the design of the program. I spent time with them and got the program straightened out," he added. "I've reviewed the present program and financially, you have it totally messed up. You are paying far more for that program and the instructors than you need to pay."Graver offered to sit down with administrators to review and explain what the requirements are.