Mt. Vernon Board of School Trustees

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, notice is hereby given that the Board of School Trustees of the Mt. Vernon Community School Corporation will meet at 7:00 p.m. on March 27, 2023, at the Mt. Vernon Administrative Service Center 1806 West State Road 234, Fortville, Indiana, to hold a hearing to discuss and hear objections and support regarding the proposed renovation of and improvements to Mt. Vernon High School, including HVAC, mechanical, electrical and plumbing improvements and replacement of geothermal systems.  You are invited to attend and participate in the public hearing.

You are hereby notified that a public hearing will be held before the Board of School Trustees (the "Board") of Mt. Vernon Community School Corporation (the "School Corporation") on March 27, 2023 at the hour of 7:00 p.m. (Local Time) at the Mt. Vernon Administrative Service Center 1806 West State Road 234, Fortville, Indiana, upon a proposed Fourth Amendment to Lease (the "Fourth Amendment") to be entered into between Mt. Vernon School Building Corporation of Hancock County (the "Building Corporation"), as lessor, and the School Corporation, as lessee.

The proposed Fourth Amendment upon which the hearing will be held amends the existing Lease Agreement originally dated May 16, 2007, as previously amended (as amended, the "Original Lease", and together with the Fourth Amendment, the "Lease").  The Fourth Amendment increases the rent payable thereunder in exchange for further renovation of and improvements to the property which is subject to the Fourth Amendment (the "Leased Premises").  The Fourth Amendment increases the annual Lease rental by a maximum of $2,000,000, payable on June 30 and December 31 beginning with the completion of the renovation of and improvements to the Leased Premises or June 30, 2024.

As additional rental, the School Corporation shall maintain insurance on the Leased Premises as required in the Lease, shall pay all taxes and assessments against such Leased Premises, as well as the cost of alterations and repairs, and shall pay rebate amounts to the United States Treasury, if necessary.  After the sale by the Building Corporation of its bonds (the "Bonds") to pay for the cost of the renovation and improvements, including any other expenses incidental thereto, the increased annual Lease rental stated above shall be reduced to an amount equal to the multiple of $1,000 next higher than the sum of principal and interest due on the Bonds in each twelve-month period ending on January 15 plus $5,000, payable in equal semiannual installments.

The Lease gives an option to the School Corporation to purchase the Leased Premises on any lease rental payment date.  The Leased Premises includes a portion of Mt. Vernon High School located at 8112 North 200 West, Fortville, Indiana in the School Corporation.

The plans and specifications, including the estimates for the cost of the renovation and improvement, as well as a copy of the proposed Fourth Amendment, are available for inspection by the public on all business days, during business hours, at the Administration Building of the School Corporation, 1806 West State Road 234, Fortville, Indiana.

At such hearing all persons interested shall have a right to be heard upon the necessity for the execution of the Fourth Amendment, and upon whether the increased lease rental provided for therein to be paid to the Building Corporation is a fair and reasonable rental for the renovations to the Leased Premises.  Such hearing may be adjourned to a later date or dates, and following such hearing the Board may either authorize the execution of the Fourth Amendment as originally agreed upon or may make modifications therein as may be agreed upon with the Building Corporation.

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