The Board of Trustees of Culver Community Schools on Monday evening met with Clair Wolverton,
president of Monical and Wolverton Inc., to discuss plans for the new unified high school
for the school corporation. At least one more architectural representative will be interviewed before
a final decision is made regarding the choice of the company which will be contracted to furnish
the architectural and engineering services for the building program.
Monday evening's discussion was devoted to consideration of such matters as heating and air conditioning, types of building design, wall construction, comparative costs , and financing plans for such a project. Mr. Wolverton explained the steps Involved in the public holding corporation and the mortgage loan plan. The latter procedure provides for a private building corporation to finance the erection of the building. Upon the completion of the structure, the new building is sold to an insurance corporation or financial institution to which the school corporation pays annual rental until the debt is completely paid.
Following the discussion with Mr. Wolverton, Superintendent Frank McLane discussed with the School Board the recommendation which he had received from Fred Wissman, executive secretary of the State Board of Tax Commissioners, regarding procedures for establishing a cumulative building fund. Mr. Wissman had advised that the School Board set up a cumulative levy sufficient to raise the funds necessary to purchase equipment for the new school and to build necessary walks, driveways, and parking areas. As soon as the building would be occupied, the School Board should substitute a lease rental levy for the cumulative building levy in order to provide for the semi-annual payments until the cost of the building would be paid.
The School Board expects to schedule a discussion with another architect for the week of February first before reaching a decision as to the choice of the company which will be engaged for planning the new high school. It is roped that the work on preliminary plans may be started during February. As soon as the tentative building plans are available, these will be presented to the general public in public meetings at Culver and Aubbeenaubbee Schools. culver Citizen THURSDAY, JANUARY 28, 1965