NOTICE OF PUBLIC HEARING BY THE BOARD OF SCHOOL TRUSTEES OF THE SOUTH VERMILLION COMMUNITY SCHOOL CORPORATION, VERMILLION COUNTY, INDIANA
The citizens of the South Vermillion Community School Corporation, Vermillion County, Indiana (the “School Corporation”), are hereby notified that the Board of School Trustees (the “Board”) of the School Corporation, proposes to (1) acquire one or more buses to replace existing buses that have reached their useful life and to supplement the existing buses and other similar vehicles used by the School Corporation, (2) acquire certain technology equipment, including, but not limited to, technology equipment in connection with School Corporation’s one-to-one program, (3) undertake one or more facility improvements at one or more of the buildings operated by the School Corporation, including, but not limited to, all or a portion of roof restorations, repairs or replacements at one or more of such facilities, (4) complete other miscellaneous facility improvement, equipping and land improvement and/or acquisition projects throughout the geographical boundaries of the School Corporation, and (5) undertake all projects related to any of the projects described in any of clauses (1) through and including (4) (clauses (1) through and including (5), collectively, the “2023 School Bus and Technology Acquisition and Facility Improvement Project”).
Furthermore, the citizens of the School Corporation are hereby notified that the Board proposes to issue general obligation bonds of the School Corporation in one or more series or issues, to be designated as the “South Vermillion Community School Corporation, Vermillion County, Indiana, General Obligation Bonds, Series 2023” (the “2023 General Obligation Bonds”), for the purpose of procuring funds to pay for all or a portion of the costs of the 2023 School Bus and Technology Acquisition and Facility Improvement Project and to pay for all or a portion of the costs associated therewith, including, but not limited to, the expenses in connection with or on account of the issuance of the 2023 General Obligation Bonds therefor. The 2023 General Obligation Bonds shall be issued in an original aggregate principal amount not to exceed $1,720,000, have a final maturity date of no later than January 15, 2032, and bear interest at a maximum rate or rates not to exceed six percent (6.00%).
Notice is hereby given by the undersigned that the Board will, on April 17, 2023, at 6:30 p.m. (local time), in the Board Room of the School Corporation’s Administration Office, located at 800 West Wildcat Drive, Clinton, Indiana, conduct a public hearing (1) to explain the potential value of the 2023 School Bus and Technology Acquisition and Facility Improvement Project to the School Corporation and the community, and (2) regarding the matter of appropriating the proceeds of the 2023 General Obligation Bonds and investment earnings thereon. All interested parties are entitled and encouraged to attend to present their testimony and ask any questions relative to the 2023 School Bus and Technology Acquisition and Facility Improvement Project or the 2023 General Obligation Bonds.
Subsequent to the public hearing, the Board expects to consider adoption of a resolution regarding the nature of the 2023 School Bus and Technology Acquisition and Facility Improvement Project and to consider adoption of a resolution regarding the appropriating of the proceeds of the 2023 General Obligation Bonds and the investment earnings thereon for the purposes described herein.
Dated this 5th day of April, 2023.
SOUTH VERMILLION COMMUNITY SCHOOL CORPORATION, VERMILLION COUNTY, INDIANA By: Dave Chapman, Superintendent | |
[TO BE PUBLISHED ONE (1) TIME IN ONE (1) NEWSPAPER OF GENERAL CIRCULATION WITHIN THE SCHOOL CORPORATION]
DMS JJQ 25531534v2