NEW KNOXVILLE — The New Knoxville Board of Education voted during its June 27 meeting to refinance its bonds on the school building.

The board apaproved a bond resolution authorizing the issuance of bonds in an amount not to exceed $1,255,000 for the purpose of advance refunding (refinancing) a portion of school facilities construction improvement and refunding bonds from 2007, which included some roll over from bonds from 1998.

“The rates are lower,” said Treasurer Cathy Doseck, Thursday. “Whenever you look at it and you can save 3 percent or more, it’s time to refinance and that’s where we’re at. We expect to save taxpayers $183,000 and pay off (the loan) five years early.”

The board also, following an executive session, voted to increase the salaries of Doseck and Superintendent Kim Waterman by 1 percent and of Junior/Senior High School Principal Jenny Fledderjohann by 5 percent, effective Aug. 1. Doseck’s annual salary will be $74,942; Waterman’s, $100,438; and Fledderjohann’s, $68,250.

In other business, the board:

• Approve revisions to the student, athletic and administrative handbooks.

• Approved membership in the Southwestern Ohio Instructional Technology Association and the Buckeye Association of School Administrators.

• Hired Jenny Heitkamp as a guidance counselor and Joey Weaver as a bus driver, both for the 2016-2017 school year.

• Heard reports concerning repairs to drinking fountains and buses and how a new batting cage will improve the baseball program.