The Southwest Allen County Schools board approved a resolution authorizing staff to pursue purchase negotiations for approximately 58 acres on Knowyer (Noyor) Road and moved forward with a lease amendment and bond financing approvals that allow the district’s building corporation to issue up to $85 million in first mortgage bonds and to appropriate up to $100 million in bond proceeds and investment earnings for districtwide projects.

The purchase resolution, as presented by Dr. St. John, grants authority to enter a purchase agreement that includes a 180‑day inspection/due‑diligence period. “If through that period, due diligence checking reveals no major financial or material changes…and assuming all parties agree, then we’d, presumably assume ownership of the land,” he said. The resolution passed on a voice vote with ayes recorded and no opposing votes noted.

Legal and procedural context: Bond counsel Jeff Quackenbush explained this meeting is the final public step of a multi‑month legal process that began with preliminary determination public hearings in the spring. He told the board that none of the financing parameters had changed since earlier public hearings and that the district will not issue bonds until construction bids for portions of the project — including the planned CTE building — are received and the building corporation is instructed to proceed.

Quackenbush recommended appropriating a higher ceiling for bond proceeds than the initial bond authorization to cover possible investment earnings and avoid a repeat public hearing. “The second one is approving the appropriation of the bond proceeds and interest earnings up to amount of a 100,000,000,” he said, adding that the higher figure is an abundance of caution to avoid having to repeat the public hearing and slow the project. The board held a public hearing on the lease amendment and appropriation and received no public comment before approving the resolutions.

Votes and next steps: The board approved three related items at the meeting: (1) the Knowyer Road purchase resolution (authorization to execute a purchase agreement with a 180‑day inspection period), (2) a resolution confirming the first amendment to the lease and authorizing issuance of up to $85 million in first mortgage bonds, and (3) a resolution appropriating up to $100 million in bond proceeds and interest earnings for the districtwide projects. All passed on voice votes with ayes recorded and no nays reported. Bond issuance will occur later after construction bids are received and the building corporation is directed to issue bonds in the amount necessary to fund awarded contracts.