USD’s Twister Bonds

The Chapman Unified School District, devastated by a tornado last June, will need to issue up to $10 million of bonds to complete reconstruction of three schools, officials said.

Superintendent Tony Frieze said the exact amount of debt needed will not be known until January or February, but that it is expected to be less than $10 million. The district, serving Geary and Dickinson counties, has about 1,000 students. The town of Chapman is on Interstate 70 between Topeka and Salina in northeastern Kansas.

The elementary, middle, and high schools were severely damaged by the tornado that hit the area June 11. The art building and the district office also were damaged.

The Federal Emergency Management Agency has brought in modular classrooms until the schools can be rebuilt. The district has received a $21 million insurance settlement and $500,000 in donations. FEMA will cover 75% of the project costs above that, and the Kansas Division of Emergency Management will pay 10%. The district will pay 15% through bond debt, Frieze said.

“All schools in Chapman will be rebuilt,” the district said in an announcement to the students and parents. The district has been using a downtown medical office for its administration, and a home built by the district’s construction technology students has become the high school office.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER