001Do you feel like you're getting ready? >> A lot. She was waiting for us. >> It's fine. That was >> It's good. >> Somebody could come in a minute. >> They could. >> We don't want it. I didn't. >> Okay, it is 7 p.m. and I would like to call to order the project hearing and second preliminary determination hearing. [clears throat and cough] I'd like to welcome everyone who is present. The next item on the agenda is for the board to hold a project and preliminary hearing on the proposed project. If you are interested in speaking at the hearing, please make sure you have signed the signin sheet the back of the room which should include your name and address after presentation by the administration and its adviserss. There will be an opportunity for the
002public to make comments about the project. At the hearing, we will ask that each person limit their comments to three minutes and that the topics be limited to the proposed project under consideration. The notice of this preliminary determination hearing was published as legally required. The first preliminary determination hearing was held on November 17, 2025. At this time, I will ask Mrs. Johnson, our superintendent, to explain the purpose of this hearing. >> Good evening. Pursuant to Indiana Code 20-26-7-37, before a school corporation may spend more than 1 million to build, repair, or alter a school building that will be financed by a lease or bonds, it must hold a public hearing at which explanations of potential value of the project to the school corporation and community are given. Similarly, pursuant to Indiana code 6-1.1-20-3.1, a school
003corporation must hold two public hearings and adopt a resolution to preliminary deter to preliminarily determine to issue bonds or enter a lease for a project which has a total project cost in excess of a non-controlled project or if the school corporation has a debt service fund tax rate of at certain amount. These public hearings and the adoption of resolutions are the very beginning of the legal process. These resolutions establish the maximum financial terms for the proposed project. Thank you. We'll now hear from Mrs. Johnson about the process of determining and communicating the project to the community and the need for the project. >> So, as we previously discussed and in our first public hearing, we participated in many studies um to view the structures of our buildings, our roofs and prioritize uh projects that we
004feel are pertinent to the school corporation to keep our buildings functioning and to mark where we need them for students and staff. We have come up with a list of projects that we feel are very pertinent and need to be done including roof repairs where aging materials and moisture issues are present. We have tunnel piping that is in desperate need of repair and we have masonry and metal coins to go along with our roof projects. Structural and finished repairs in the auditorium due to settling and past moisture intrusion as well as restoration in the elementary playground from past construction projects for drainage. We also need to look at replacing uh remaining HVAC units that have not previously been replaced as well as needed costume upgrades in the future. >> Right. Thank you very much. And
005now we'll hear from Damian from Raymond James, our underwriter, about how the proposed project will be financed as well as information about the effect on the typical property taxpayer. Thank you. [clears throat] Presentation looks at the funding of the project on page two. So part of this hearing we have to set a maximum amount and also payment. So to find the projects Wisconsin spoke about looking at a bond issue of no more than 6,345,000 used a max interest rate of 5% payment screen that follows the existing that comes off the foundation payments. increased in order to minimize the impact will be up to 20 year payback. The impact again is because it follows that comes up going back payments here in the years 20 max. [clears throat] Thank you very much. We will now open
006the public hearing. Remember, if you would like to speak, please sign in on the sheet which is located at the door. As I mentioned earlier, we ask that you state your name and address, limit your comments to the proposed project and financing. Keep any comments to three minutes, and avoid being repetitive if possible. May I have a sign-in sheet now, and I will begin calling the names of those who are interested in speaking. And we have no public present at this meeting. So we are going to continue. Would anyone else like to speak? Anyone else come in since a minute ago? So I think we're good. Um thank you to all who participated in the hearing. We appreciate your time and interest in the projects and the future of our community. Please note that this
007is just the first step in the legal process. The board will continue to work with the administration and its professionals to look for efficiencies to conserve tax dollars while meeting our educational needs. Mrs. Johnson, would you please summarize the budget resolution? The project resolution is required when the school is planning to spend more than 1 million per building. It contains the estimated hard and soft construction cost and the cost of issuance and establishes the total project. It also contains the estimated tax impact. >> Thank you very much. At this time, could I have a motion and a second to adopt the project resolution? >> Second. >> Thank you. Any further discussion? If not, all in favor say I. >> I. Opposed. Same sign. >> Mrs. Mr. Johnson, could you please summarize the preliminary determination resolution?
008>> The preliminary determination resolution is required when a school is planning to finance more than a certain amount for a given facility. It contains the total project cost, maximum annual payment and lease term and other financial terms such as the estimated principal amount and tax impact. >> Thank you. >> Could I have a motion and a second to adopt the preliminary determination resolution? So moved. >> Second. >> Thank you. Any further discussion? All in favor say I. >> I. Opposed. Same sign. Motion carried. Thank you very much. [clears throat] Excuse me. Um, Mrs. Johnson, could you please summarize the reimbursement resolution? >> Yes. The next resolution is a reimbursement resolution relating to the financing of the construction project. The resolution permits the school corporation to reimburse itself from bond proceeds for any cash which it
009might spend on the project prior to the closing of the bonds. It is required by federal tax law in order to preserve the school corporation's ability to reimburse itself. Thank you. Could I have a motion and a second to adopt the reimbursement resolution? >> Second. >> Thank you. Any further discussion? All in favor say I. I. >> Oppose. Same sign. Thank you very much. Thank you everyone for attending. Can I have a motion to close this meeting? >> So moved. Second. >> Thank you. >> Any further discussion? All in favor say I. >> I. >> Opposed same as sign. Motion carry. Thank you very much. >> Thank you. >> Thanks everyone. Happy >> Thanksgiving. for a few years. >> Okay. Now, we're going to move on to our next community school special meeting. Um, this
010is a meeting of the school board in public for the purpose of conducting school programs. is not to be considered a public community meeting. There will be time for public participation as indicated on the agenda. So, first of all, I'd like to call this meeting to order at 7:10 p.m. Stand for the pledge of allegiance. I aliance to the flag of the United States of America and to the republic for which it stands. One nation under God, indivisible, with liberty and justice for all. Now for a moment of silence. Thank you everyone. Um the purpose of this meeting is to approve the transfer resolution for 2026 to transfer from the education fund to operations fund 600,000. You want to elaborate on that? >> So each year we do this resolution and as we're nearing the
011end of the calendar year, we need to approve this for the 2026 year um and send this in so they can finish our budget order. That is why we us tonight. Um, so the 600,000 is the annual amount. It comes to around 50,000 well around it does probably 50,000 monthly. Um, and we do have the ability to um, you had asked if we have the ability to change that if needed and if so, we would do another resolution. So, we're just asking tonight for approval of resolution to transfer funds from education to the operation fund so that we can meet all of our expenses as projected for the calendar year. Right. Um, can I have a motion to approve the transfer resolution for 2026 to transfer from the education fund operations funds the total an
012annual total of 600,000? >> Very happy and honored to make that motion. Second. >> Thank you. Any further discussion? All in favor say I. >> I. Oppose. Motion carried. Thank you very much. Do we have any closing comments? Hearing none. Can I have a motion to adjourn the meeting at 7:12 p.m.? >> Second. Thank you very much. Any further discussion? All in favor say I. >> I opposed. Motion carries. Thank you very much everyone. >> Hey, Kelly. What's the button? [laughter] >> I didn't want to mess it up. >> Education.