001I would like to call this meeting to order on July 14th of 2025. If you will please join us for a moment of silent meditation. And now we can do a pledge of >> allegiance to the flag of the United States of America and to the republic for it stands one nation under God indivisible with liberty and justice for all. At this time, Katie, would you please read our mission statement? >> Yes. Our mission is to guide students to become informed, engaged citizens and curious lifelong learners. >> At this time, I have no public participation. >> Very good. Will we recommend for the board to approve the minutes of the June 9th, 2025 board meeting? >> Child, second by Joe. All in favor? We'd recommend your approval of the corporation claims and payroll as listed.
002So moved >> by Katie, second by Bill. All in favor? 70. Now ready for public hearing and second preliminary determination here. The next item on the agenda is for the board to hold a project and premillinary hearing on the proposed bond projects. If you are interested in speaking at the hearing, please make sure you have signed the sign-in sheet, which should include your name and address. After a presentation by the administration and its advisors, there will be an opportunity for the public to make comments about the project. At the hearing, we will ask that each person limit their comments to three minutes and that the topic 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 June
0039th, 2025. At this time, I will ask that the superintendent and business manager explain the purpose of this hearing. >> Thank you. Per Indiana Code 2026737, before a school corporation may spend more than a million dollars to build, repair, or alter a school building that will be financed by a lease or bond, it must hold a public hearing at which explanations of the potential value of the project to the school corporation or community are given. Similar to Indiana Code 6-1.1-20-3.1, a school corporation must hold two public hearings and adopt a resolution to preliminary determine to issue bonds or enter a lease if the school corporation has a debt service fund tax rate above a certain threshold or for a project which has a total cost in excess of certain thresholds. These public hearings and the
004consideration of resolutions represent the beginning of the legal process. The resolutions presented at this meeting establish the maximum financial terms for the proposed statements. Um to give a little background of where we were, how we are at this point is back in March of 2023, Barton Kovelma uh architects and engineers presented us a study of of our buildings at which time they they gave us a very nice list of items that we needed to continue to maintain our buildings, upkeep items. um making sure the the building and our facilities are wellmaintained and we do not get too far behind and we have unnecessary repairs. So, as our architect presented our last meeting, if you recall, Adam from Barton Co. development was here uh via Zoom and and presented at our last meeting. Some of the
005items that he discussed that are important to maintain our building uh for our future is that the high school the po uh pool envelope roof and HVAC. So the masonary work outside needs to be redone. It is Boeing and that needs to be done. high school roof, climate controls, our geo system, our main electrical panels, and some side or sidewalk replacements with the high school. Some very important items there dealing with the intermediate school, middle school here at the corp office and our bus area is the expansion of city water. So, um, some years ago, we had city water through Noredge taken to the high school. The pipes run through the school property, but at that time, we chose not to hook up to city water until we had some issues with our wells and
006the water table is decreasing as Travis had explained to us. Uh, intermediate school, our chillers need replaced. At Deont, uh, we need to go through roofing phase three. As you're aware, this summer we're in phase two and Deont Elementary School also our main electric panels. And then at Weatfield, we need water pump replacements. And then exterior masonary repairs throughout our five campus buildings need to be done. So that is the reason and many of the repairs that we have. I think it's important to stress that it's no new buildings. It's not a new facility and this bond can only go for its intended purpose which was stated in the legal ad and that is to maintain our facilities. So that is the purpose that and it was explained by Adam last time. Um tonight we
007have Sean with us again uh to go over the financial information. Excellent. Thank you. >> Good evening. Uh thank you again for another invitation to be with you uh to speak on this very important project. My name is Shawn McIll. I'm a senior manager and municipal adviser with Baker Tilly. Had the pleasure of working with the district for about the past eight years. Um and tonight I will be presenting to you as as superintendent street uh described the maximum parameters for the project. these uh essentially set the limits uh within we must abide when financing this project. So uh some of them are intentionally high to provide you with flexibility uh others we certainly hope to um exceed in terms of performance and efficiency uh of the bond which you issued to finance these projects.
008So I'll explain all of those. This information that I just handed out is the exact same that we covered last month. Nothing has changed. Um this represents the second and final preliminary determination hearing. Immediately following this hearing will be the project hearing uh wherein the board will be asked to consider resolutions authorizing uh the project and then a preliminary bond resolution to get the fin the process for the financing of that project started. So the maximum borrowing amount is equal to the maximum project cost and that is $19,810,000. Of that amount, we anticipate on the very worst day in the market and with very high cost of issuance fees uh a minimum of $19,535,000 will be available for hard and soft construction costs. The difference between there is cost of financing uh comprised of two
009items. uh one being cost of issuance that would be a bundle of fees associated with uh the working group. So your lawyers uh us Baker Tilly as municipal adviserss uh standard of pores uh for the rating on the bond uh the bank serving as registar and paying agent and as this is a lease we very conservatively estimated insurance items for title insurance um builder's risk insurance as well as um appraisal. Some of those items may not be needed. others may be budgeted for within the soft cost prepared by your by your architect or construction manager. So that is a very conservative estimate. We certainly expect that more than $19,535,000 will be available for projects. The maximum repayment term for the bond issue uh issued to finance the bonds is 12 years. Uh based on our
010understanding, we do not anticipate uh the need for a financing longer than 10 years. uh in this presentation are three illustrative financing scenarios. These par parameters provide for the flexibility to undertake any one of those and then some. Um so the estimated interest cost in this presentation just below $6.2 million is based upon that 10-year repayment term and a 5% interest rate. If these bonds were issued today, uh we would anticipate uh certainly hope for below 4%. Um but very very low fours would would be about the highest we we would anticipate. >> The maximum annual lease rental payment or the maximum amount that the school corporation could pay annually to repay these bonds has been set at $7,720,000. that amount uh is essentially equal to the amount that the school corporation pays in 2025
011on all of its debt. So that would mean that you once all of its debt is repaid, you could be essentially maintain that repayment level and repay these bonds as fast as possible. Um you certainly don't have to do that with a maximum 12-year repayment term. You could structure step downs as illustrated on the following slide. That is essentially the maximum parameters that those are the important items that you will be asked to consider this evening. Uh following our slides illustrating the school corporation's current uh repayment structure on all of its outstanding bonds that is here on slide three as you can see today in 2025 total annual payments are roughly equal to that $7,720,000 mark. Then we have step downs in 26 27 another in 29 and then all debt is repaid. We've included
012again again as we covered last month in comparison of total school tax rates. Today in 2025, you sit right at about 82 cents uh compared to your uh your neighbors um contigu those here in Jasper County and then contiguous counties with similar enrollment uh than between 2,000 and 6,000 students. Uh you're certainly in that lower third uh of those school corporations. And we don't anticipate u based upon the maximum repayment structure and conversations with the administration, we don't anticipate that this bond issue would increase that tax rate or the amount of dollars that you request on an annual basis to repay your debt. Um that of course is based upon today's assessed valuation. Um but the levy amount, the amount of dollars that you request from your property taxpayers would stay the same. Um I
013can cover the illustrated financing scenarios if you like. We did that last month. Um the maximum parameters uh of course would provide you the option to undertake any one of these a six year, an 8year or a 10-year repayment term. You could even do a sevenyear, a 12 year, a 9y year. Anything in between the six that's illustrated here, which would be the fastest you could repay the bonds, the quickest I should say. um and 12-year which would be the maximum repayment term. That concludes my prepared remarks. I'm happy to answer any questions from the board. Um if any come up later, my contact is information is in the back of the presentation. Uh you're welcome to email any questions to superintendent stream or Chris and uh they'll be sure to get those to you.
014>> Thank you very much. Thank you. We will now open the public hearing. Remember, if you would like to speak, please sign in um on the sign-in sheet which is located on this table. As I mentioned earlier, we ask that you state your name, address, limit your comments to the proposed project in writing. Keep any comments to three minutes and avoid being repetitive when possible. I don't think I have any. Would anyone like to speak? No. Um, thank you to all who participated in this hearing. We appreciate your time and interest in the projects and the future of our community. Please note that this is 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
015our educational needs. >> So, there will be three resolutions that will be presented in our new business here shortly. Uh first the project resolution is required when the school is planning to finance more than mill a million dollars on a given facility or type of work. It contains the estimated hard and soft construction cost and the cost of issuance and establish the total project cost. It also contains the estimated tax impact. The second resolution is the preliminary determination resolution is required when a school corporation is planning to finance more than a certain threshold for a given project. 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. And finally, the third resolution is a reimbursement resolution relating to the financing
016of the construction project. The resolution permits the school corporation to reimburse itself from bond proceeds for for any cash which it might spend on the project prior to the closing of the bonds. It is required by the federal tax law in order to pro preserve the school corporation's ability to reimburse itself. Okay, moving on to the report items. Uh congratulations to Amelia Hoffman Busk on um she's a senior and she received the next generation the who's your educator scholarship award. Uh it's renewable scholarship up to $10,000 per year total 40,000. So congratulations to her. Uh we told that she wishes to be a special education teacher. So that's that's great. Next, there are several board policies that have been presented to us through Neola, which is who we work with. Uh the attorney firms they
017work with to provide us several uh recommendations. Many of these are revised technical corrections and some replacement based upon current law change as well as some uh court cases that have been determined. All those were sent to you ahead of time and they're pretty self-explanatory with with that. So, but this we'll consider this our first reading with with all those. Is there any particular questions? Very good. We'll move on to employment. We were presented three resignations. So, I recommend the board accept the resignations as listed. >> So, move. Second. >> Moved by Tim, second by Bill. All in favor? 70. >> Under extracurricular, we're getting prepared for the next school year. We recommend that the board approve the ECA recommendations given to us. So >> second. >> Moved by Job, second by Dan. All in
018favor? 70. >> Under employment certified, we recommend that you approve the certified recommendations. So moved. >> Second. >> Moved by Jill, second by Katie. All in favor? 70. >> Under classified, we'd recommend your approval on the classified recommendations as listed. >> Second. >> Moved by Bill, second by Jeff. All in favor? 70. >> Under transfers, there are three transfers. We'd recommend your approval on the transfers. >> So moved. >> Second. Moved by Dan, second by Jill. All in favor? 70. >> Under new business. As just talked about, we'd recommend your approval to approve resolution 20257 project resolution. So move. >> Second. >> Moved by Jeff, second by Bill. All in favor? 70. >> We'd recommend your approval for resolution 20258, the preliminary determination resolution. >> So moved. >> Second. Moved >> by Katie, second by
019Jill. All in favor? 70. >> We recommend resolution 20259 reimbursement resolution. So moved. Second. Moved >> by Dan, seconded by Tim. All in favor? B. We'd recommend that the Food Service Department through the Indiana Educational Service Center Food Co-op or Nessik that DFA Dairy Brands uh be the Ki Valley School Corporation Dairy Milk Vendor for this coming school year. >> So move second. >> Moved by Jeff, second by Bill. All in favor? 70. Also recommended for the food service department is the renewal of commercial as the Ki Valley School Corporation snack and beverage vendor for the school year. >> So moved. >> Second >> by Jill, second by Dan. All in favor? 70. F. Also for the food service department, it's recommended that we renew the bid for wear, wash, and sanitation with smart systems
020for the 2526 school year. >> So moved. >> Second. >> Moved by Bill, second by Dan. There was a lot of them. I'll pick D. All in favor? 70. Also for the food service department, we they recommend the approval of Alpha Baking Company as the corporation's bakery vendor for the 2526 school year. >> So second move by Jeff, second by Jill. All in favor? 70. We'd recommend the approval of the reduction in yearly work days for the corporation secretary from 240 to 220 beginning the 2526 school year. >> So move second. >> Moved by Tim, second by Bill. All in favor? 70. >> We recommend the 202526 high school athletic handbook. Second move >> by Katie, second by Dan. All in favor? 70. >> We recommend that administrative assistance assists the corporation with the feasibility
021study. >> Second moved by Jill, second by Jeff. All in favor? 70. recommend the number of new outofd district students per grade level for the 2526 school year. These u recommendations are brought every year for your consideration. >> So moved by Tim, second by Dan. All in favor? We'd recommend the purchase of uh from Exact Path from Edenum for grades K through five for $31,640.30 paid out of the formative assessment grant. >> So move second by Katie, second by Bill. All in favor? 70. We'd recommend that vital signs replace the existing athletic record boards, update the directional signage, and install a large KV Cougar logo sign in the high school gymnasium. >> Second move by Bill, second by Jill. All in favor? 70. We recommend that you accept the 2025 Title One grant in the
022amount of $379,239.58. So >> second moved by Jeff, second by Katie. All in favor? 70. We'd recommend your approval for the classified employee handbook effective July 2025. >> Move. >> Second. >> Moved by Bill, second by Jeff. All in favor? 70. We'd recommend the approval of the KV lunch program purchase a new welcome single deck oven to replace the nonworking oven at the intermediate school. >> So moved. >> Second. >> Moved by Katie, second by Dan. All in favor? 70. And finally, under new business, we'd recommend uh the 202526 before and after school program prices uh per the attachment. >> Second. >> Moved by Dan, second by Jill. All in favor? 70. >> We have no under routine items, we have no field trips. We have use of facilities and we'll take two votes on
023these. The first uh is that we ask for your consideration approve consideration for the use of facilities for the Cub Scout pack, KB Pop Warner Cheer and Football and KB Pop uh Pop Warner Cheer and Football again. >> So move second. >> Moved by Dan, second by Jeff. All in favor? 70. And then we asked that the Deont KV Rotary Club be um granted permission for the Rotary Ramble again to use Deont Elementary School cafeteria and parking lot August 8th and 9th. So >> second by Jill, second by Jeff. All in favor? Okay. Dan is upstating. So it's 61. Under professional leaves, we'd recommend your approval for the three professional leaves as listed. >> Second by Bill, second by Katie. All in favor? 70. >> Those are all the items for our regular business. >>
024A motion to move. Second move by Tim, second by Jeff. All in favor? 70. 625. Probably stay on the air because we'll be going to our work session shortly. Then Sheldon, thank you so much. >> Appreciate it. >> My pleasure as always. >> I just I didn't realize you had the Yepitches uh on as your soccer coaches. >> Oh, perfect. Yeah. >> Sean, the minutes. And then there's the >> So, you were on the team. >> No, no, my friends were your friends. >> Yeah. No, I I came from private school, so I thought it would be a good idea for me to try out the football team. Oh, >> I met a lot of good friends. Thanks. >> Thank you. It's not sand. Is it? We do appreciate the three IT gentlemen here this
025evening helping us with the online portion. So, thank you ready to start the work session. >> All right. First report on some of the summer projects went on is the Deont Elementary School work project is is progressing. If you've driven by, it's it's making some progress. There was some uh plywood that had to be replaced, which when you do most roofing projects, there's going to be some rotten wood. So, uh that's underway. Uh the high school window project delivery was supposed to be taking part. We knew that was going to be a late start anyway. Uh so, they're they're starting to make that uh progress there. And that west parking lot will be blocked off like it was for previous projects within the last couple of years. And then the high school painting in the
026gymnasium is complete. Uh feel free to go in. Um so the the paint in the gym just gives it a real fresh look. Uh so white on the sides, the gray curtains have been hung in the four corners. There's some wrinkles in a couple of them and then we're going to come and take those out, attempt to take those out. And then the beams, the I beams up above on the roof or painted ceiling are red. So, have you any of you seen it? Very good. So, um, as you would just approve, Margaret has the signs that are coming that we've talked about before. So, hopefully that'll give a bang. And then where the cougar was on the east wall is going to be a sign as opposed to painted on the wall. So, we'll
027see what that looks like. So, it will be a refresh. And then I I believe this week or next week, the company from the the gym floor is coming to get rid of all the paint they put on now and redo that. Uh it's hard for a lot of us to see, but it does have a little bubbling in it. Uh so hopefully this this time around they'll they'll finish that. So those are some projects. The carpet uh in the eighth grade wing at the middle school has been completed. So and that that looks really nice with that. Uh finance Chris couple items to share. Our bianual financial report form 9 was submitted to department of education for approval last week. We'll I'll share it with the board once it's ac accepted by the state.
028Our budget is progressing. We're hoping to have a budget hearing in August this year. And the building treasurers are going to be trained in their new financial software next week from WOW. That's all I have for tonight. Mike um curriculum. Thank you for passing the exact path. Uh that's pretty important for uh kindergarten through fifth grade. Um we have a me meeting scheduled with them tomorrow. So we were fingers crossed that you were going to pass it and uh the principles are ready to get going as as our um people involved with Edenum. also with our digital intervention grant that we um that we were awarded a little over 90,000 for the is and the middle school. Um we meet with them next week to get the ball rolling so that they can come in
029and start working with uh with our teachers and our and our kids. So thank you for all those. >> We listed some important dates there. uh regist online registration opened up today for new students or excuse me our our currently enrolled students. New student registration is July 28th and 29th in our buildings. Um schedules will be available approximately August 1st. New teacher orientation new to the district is again August 4th and 5th and Mike organizes that with some other staff members. So thank you Mike for doing that. Uh then our teachers start the 6th and 7th and the first student day is on August the 8th. Uh two of you have expressed interest and I have we have registered you uh for the ISBA state conference September 15th and 16th. If the rest if any
030of you else would like to go, let me know and we'll get you registered for that. So um those are all the items that we have for the work session. Any items for us? >> Nothing. >> So, I think we're ready to adjourn the work session. >> Very good. See you. Thank you. 6:33.