The Mount Vernon School Board voted 4-0 to approve a final bond resolution designed to satisfy IRS and Indiana statutory requirements and to preserve the district's option to sell general-obligation bonds for previously approved capital projects.

"This doesn't obligate us to do anything. It only permits us to do it," Staff member Mister Elkins said when explaining the resolution. Elkins told the board the resolution collects the terms and statutory statements the district must include in bond documentation so the district can close a sale if market conditions are favorable.

Elkins described the timeline pressure in part because of a change he called "SCA 1 legislation" coming into effect Jan. 1 and said the district will continue to watch interest rates and other market factors. He told the board the district could instead use a lease-rental structure but that general-obligation bonds are the likely vehicle if the district moves forward.

Kelly Freeman moved to approve the final bond resolution, Stacy seconded and the motion carried 4-0. The resolution was described as permissive: it gives the board the needed documentation in place so the district may sell bonds later; any actual sale would require additional steps, including a public hearing for an additional appropriation.