Sophomore Kayla McGee was presented with a state championship ring on Monday night during the Lonoke School board meeting.

Teacher and swim coach, Laura Denson made the ring presentation following the introduction of the district swim team. The ring was presented to McGee for her state title won at the State Championship Swim/Dive meet on March 1 at the University or Arkansas in Little Rock. McGee finished sixth overall, but first in the 50-yard freestyle among schools Class 5A or below, with a time of 25.34. She finished third in the 100-yard breaststroke with the top three spots all coming from schools Class 5A or smaller.

In other business, Jack Truemper with Stephens Inc. Public Finance Department presented options to the board for refinancing the districts current construction bond. According to Truemper, based on the current market conditions, the district can potentially achieve a substantial amount of savings by refunding the Nov. 1, 2009 bond issue. He provided two refunding options for the board to consider.

The first option would produce an estimated overall savings of approximately $396,690. Option two, which is the accelerated option, is estimated to produce a net savings of $360, 515 with approximately $310,790 in savings the first two years. Truemper said the amount of saving could be more or less than the estimated savings. He said the district would be under no obligation to accept the lowest bid, in the event the sale fails to produce a sufficient amount of savings.

The current bond is scheduled to mature on Feb. 1, 2035. Truemper said the scheduled pay off date would not be effected by reissuing the bond. He said by issuing the new bonds at a lower rate, the old bond would be paid off.

By unanimously vote, the board passed a resolution authorize Stephens Inc., as fiscal agent, to file an application for approval with the State Board of Education to issue refunding bonds, in order to refund the current bond.

Also during the meeting, the board unanimously voted to:

-Approve the Special Education budget application for the 2014-2015 school year

-Hire Karen Cole and Jennifer Smart as cafeteria workers

-Hire Efrem Jones as a bus driver.

-Approve a $3000 stipend for Elen Smith as Food Service Manager

-Approve a $5000 stipend for Leslie Staton as Preschool Coordinator

Following the evening meeting, new teachers of the district were treated to refreshments during an informal meet and greet.

Karen James was absent from the meeting.

The next regular meeting will be at 6 p.m. on Sept. 15 in the administration building.