***Rockwood Alert*** Rockwood Stakeholders for Real Solutions Requests Missouri State Audit

Well, it’s about time somebody moved on this.

As the economy continues to tank, taxes continue to rise in Rockwood, and that money is being funneled directly into the Rockwood School Board, not the schools.  Teachers are continually receiving 3% pay increase per year, while more and more taxpayers are losing jobs.  The justification for that? And I quote “Because that’s they way we’ve always done it.”  Seriously? I’m not buying that answer, because things now are not as they always were.

So when I received this about ten minutes ago, I was tickled:

IMMEDIATE RELEASE – September 21, 2011

Rockwood Stakeholders for Real Solutions has sent a request to the Missouri State Auditors office to investigate the following stated in the email below.

To Whom It May Concern: Attached is a zip file containing documents connecting; 1. Rockwood School District2. Glenn Construction – the RSD Construction Program Mgr for the past 17 yrs.3. Rockwood School District Educational Facilities Authority – see below4. Steve Smith, Board President and employee of Glenn Construction

“The sole project of RSDEFA at this point is (i) the issuance of Leasehold Revenue Bonds, Series 2002 (Rockwood R-6 School District, St. Louis County, Missouri Project), in the aggregate principal amount of $8,210,000 (the “Bonds”), for the purpose of providing funds to (a) construct, furnish and equip an early childhood/special education center (the “Project”) (the Project Site and that portion of the Project being installed thereon being collectively referred to herein as the “Leased Facilities”), (b)  refinance certain prior equipment leases of the District, a portion of such equipment being situated at Babler Elementary School, which constitutes a portion of the Lease Facilities, and (c) pay the costs of issuance of the Bonds; (ii) lease the Leased Facilities to the District; (iii) enter into a Site Lease (the “Site Lease”) with the District under which the District will lease the Project Site to the Corporation; and (iv) enter into a Lease Agreement (the “Lease”) with the District under which the Corporation will cause the proceeds of the Bonds to be used to finance costs of the Project and will lease the Leased Facilities to the District in consideration of rental payments by the District which are to be sufficient, during the Lease Term (as defined in the Lease), to pay the principal of, redemption premium, if any, and interest on the Bonds as the same become due”.  source:  email from Scott Tate, Director of Finance, RSD


RS for RS feels this is, at the minimum, an “appearance of impropriety” if not a blatant conflict of interest.

1. Mr. Smith is an employee of Glenn Construction – the RSD Construction Program Manager for the past 17 yrs.
2. Mr. Smith is the President of the RSD Board of Education
3. Mr. Smith is the Vice President of the RSDEFA

On September 18th and 19th when RS for RS reached out to Glenn Construction for a meeting with James Glenn and Arthur Floyd, we were instructed by Steve Smith to provide him a list of our concerns and he would bring it to their attention.  
Please advise as to the proper step to file a request for an investigation.Direct all questions and request for additional information to; Eileen Tyrrell, Co-Founder and Spokesperson @ 636-222-8305.Respectfully,

Rockwood Stakeholders for Real Solutions
rsdstakeholders@gmail.com
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