Mt. Vernon Administrative Service Center
Monday, October 17, 2022
- 7:00pm - 9:00pm
Please reference Policies H 225 - (Public Participation at Board Meetings) and B225 (Meetings) for guidance on providing public input on an agenda item.
Board Policies can be found at www.mvcsc.k12.in.us
Pursuant to Indiana Code § 20-26-7-37, the Board of School Trustees of Mt. Vernon
Community School Corporation gives notice that on October 17, 2022, at 7:00 p.m., they will
meet in public session at 1806 West State Road 234, Fortville, Indiana, to discuss and hear
objections and support regarding the proposed renovation of and improvements to facilities
throughout the school corporation, including deferred maintenance and repairs, site
improvements, and the purchase of real estate, technology hardware and devices, and equipment.
You are invited to attend and participate in the public hearing.
Pursuant to IC 20-26-7, before a school corporation finances more than $1,000,000 to build, repair or alter a school building, it must hold a public hearing at which explanations of the potential value of the project to the School Corporation and community are given. The hearing is open to the public to comment.
An appropriation in the amount of $5,815,000 from the proceeds of the Bonds, and all investment earnings thereon, to fund the proposed renovation of and improvements to facilities throughout the school corporation, including deferred maintenance and repairs, site improvements, and the purchase of real estate, technology hardware and devices, and equipment.(the "Project") in the School Corporation, including the incidental expenses necessary to be incurred in connection with the Project and the issuance of Bonds on account thereof. The funds to meet such additional appropriation are to be provided by the issuance and sale of Bonds by the School Corporation.
The foregoing appropriation is in addition to all appropriations provided for in the existing budget and tax levy, and a need for such appropriation exists by reason of the inadequacy of the present buildings to provide necessary school facilities in the School Corporation.
Taxpayers of the School Corporation appearing at said meeting shall have the right to be heard in respect to the additional appropriation.
The School Corporation is funding this Project through the issuance of general obligation bonds. The proceeds from this bond issue must be appropriated prior to being spent on the project.
The resolution establishes the estimated costs of the project, the tax impact and the timing of the impact.
The School Board must approve the appropriation of the bond proceeds to be spent on the project costs before any bond money can be expended. Unlike appropriations of tax dollars, this additional appropriation of bond proceeds is not required to be approved by the Department of Local Government Finance.
This Final Bond Resolution establishes the amount to be borrowed, maximum term of repayment and maximum interest rate. It also contains the details about the bonds, such as the form of the bond.
This resolution also approves the form of the Eighth Supplement to Master Continuing Disclosure Undertaking and the Registrar and Paying Agent Agreement. The Securities and Exchange Commission requires that a school corporation enter into a Master Continuing Disclosure Undertaking before it issues bonds. The School Corporation has entered into this type of agreement previously. It requires that the School Corporation agree to annually provide certain types of financial information to the SEC's EMMA database and provide notice of certain material events on a timely basis.
NOTICE TO TAXPAYERS OF ADDITIONAL APPROPRIATIONS
Notice is hereby given to the taxpayers of Mt. Vernon Community School Corporation, Hancock County, Indiana, that the proper legal officers will consider the following additional appropriations in excess of the budget for the current year at their regular meeting place at Administrative Building Board Room, 1806 W State Road 234 Fortville , IN 46040 at 7:00 o'clock p.m. on the 17th day of October, 2022.
Fund Name: RAINY DAY Amount Requested: $2,000,000.00
Major Budget Classification:
10000 Instruction $ 0
20000 Support Services $ 0
30000 Community Services $ 0
40000 Nonprogrammed Charges $ 2,000,000.00
50000 Debt Services $ 0
TOTAL for RAINY DAY Fund: $ 2,000,000.00
Taxpayers appearing at the meeting shall have a right to be heard. The additional appropriations as finally made will be referred to the Department of Local Government Finance (Department). The Department will make a written determination as to the sufficiency of funds to support the appropriations within fifteen (15) days of receipt of a Certified Copy of the action taken.
Dated: October 7-2022
Greg Elkins (Fiscal Officer)
NOTICE TO TAXPAYERS OF ADDITIONAL APPROPRIATIONS
Notice is hereby given to the taxpayers of Mt. Vernon Community School Corporation, Hancock County, Indiana, that the proper legal officers will consider the following additional appropriations in excess of the budget for the current year at their regular meeting place at Administrative Building Board Room, 1806 W State Road 234 Fortville , IN 46040 at 7:00 o'clock p.m. on the 17th day of October, 2022.
Fund Name: EDUCATION FUND Amount Requested: $1,900,000.00
Major Budget Classification:
10000 Instruction $1,000,000.00
20000 Support Services $475,000.00
30000 Community Services $ 0
40000 Nonprogrammed Charges $425,000.00
50000 Debt Services $ 0
TOTAL for EDUCATION Fund: $ 1,900,000.00
Taxpayers appearing at the meeting shall have a right to be heard. The additional appropriations as finally made will be referred to the Department of Local Government Finance (Department). The Department will make a written determination as to the sufficiency of funds to support the appropriations within fifteen (15) days of receipt of a Certified Copy of the action taken.
Dated: October 7-2022
Greg Elkins (Fiscal Officer)
RESOLUTION 2022-34 AUTHORIZING REQUESTING AND APPROVING ADDITIONAL APPROPRIATION FOR 2022 EDUCATION FUND
RESOLUTION 2022-35 AUTHORIZING REQUESTING AND APPROVING ADDITIONAL APPROPRIATION FOR 2022 RAINY DAY FUND
NOTICE OF HEARING
Pursuant to Indiana Code § 20-26-7-37, the Board of School Trustees of Mt. Vernon Community School Corporation gives notice that on October 17, 2021, at 7:00 p.m., they will meet in public session at 1806 West State Road 234, Fortville, Indiana, to discuss and hear objections and support regarding the proposed financing for the purchase of five new school buses for budget year 2023 You are invited to attend and participate in the public hearing.
Dated: October 7, 2022
Secretary, Board of School Trustees
Mt. Vernon Community School Corporation
NOTICE TO TAXPAYERS
OF ADDITIONAL APPROPRIATION
Notice is hereby given to the taxpayers of the school corporation known as Mt. Vernon Community School Corporation (the "School Corporation") that the Board of School Trustees (the "Board") of the School Corporation will meet at 1806 West State Road 234, Fortville, Indiana, at the hour of 7:00 p.m. (Local Time) on October 17, 2022, to consider the following additional appropriation of debt which the Board has determined to issue. The Board considers such additional appropriation necessary to meet the need existing at this time:
An appropriation not to exceed the amount of $950,000 from the proceeds of the loan, and all investment earnings thereon, on account of the purchase of up to six school buses (the "Plan") in the School Corporation, including the incidental expenses necessary to be incurred in connection with the Plan. The funds to meet such additional appropriation are to be provided by the issuance by a lease from Greenfield Banking Company to the School Corporation.
The foregoing appropriation is in addition to all appropriations provided for in the existing budget and tax levy, and a need for such appropriation exists by reason of the inadequacy of the present bus fleet and for future transportation needs.
Taxpayers of the School Corporation appearing at said meeting shall have the right to be heard in respect to the additional appropriation.
Dated this 7th day of October, 2022.
Secretary, Board of School Trustees
Mt. Vernon Community School Corporation
Resolution 2022-36 Preliminary Determination of Bus Debt
Minutes from September 19, 2022 board meeting.
Fortville RDC - Mr. Tony May
Cumberland RDC - Mrs. Kellie Freeman
Hancock Co. RDC - Mr. Phil Edwards
McCordsville RDC - Mrs. Shannon Walls
MVEF - Mr. Chad Gray