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Board approves authority to negotiate Knowyer Road purchase and authorizes bond lease amendment up to $85M; appropriation set to $100M
Summary
The board authorized staff to proceed with a purchase agreement and 180‑day inspection period for a roughly 58‑acre parcel on Knowyer (Noyor) Road and approved lease amendment and bond resolutions to allow issuance of up to $85 million in first mortgage bonds and appropriation of up to $100 million in bond proceeds and interest.
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…
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