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Board adopts $1.8 million GO bond resolution to fund buses, repairs

September 10, 2025 | Scott County School District 2, School Boards, Indiana


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Board adopts $1.8 million GO bond resolution to fund buses, repairs
The school board voted unanimously to adopt an additional-appropriation resolution and a final bond resolution authorizing up to $1.8 million in general-obligation bonds to fund bus replacements and several capital projects. The board approved the publication required for the hearing and then moved to adopt the appropriation and bond resolutions, with each vote recorded as 4-0.

The appropriation hearing, announced by the board president at the start of the session, covered the district’s planned uses for the GO bond proceeds. Dr. Nathan, a district staff member, listed projects the bond would cover: finishing an electrical project at Vienna Findlay; purchasing a new radio system for emergency and safety protocols; ongoing and planned kitchen repairs; replacing the clock system at Lexington; buying buses as part of a multi‑year replacement plan; purchasing staff devices; and finishing a mulching project at Johnson. “That total comes to $1,576,905. It’s a $1,800,000 GO bond,” Dr. Nathan said.

Dr. Nycomb, a district staff member, summarized the legal effect of the measures before the board: “The final bond resolution contains the project cost, maximum interest rate, and other financial terms, such as the first interest payment date and maturity dates of the bonds,” and also approves a registrar and paying agent for repayment.

Board members discussed the bus-replacement timeline during the hearing. District staff said two buses were expected to be available and potentially held for the district pending the bond proceeds; the district plans to add two buses in the 2026 cycle, order another minibus, and then add two more buses and another minibus in the following year as part of the replacement schedule. Staff indicated those planned purchases would be recommended individually when ready and paid from bond proceeds rather than district operating dollars. The district described “soft costs” associated with the bond and said remaining proceeds would be applied to other projects already on the capital list if funds remain after the items explicitly listed.

The board made three formal actions during the hearing: (1) approval of proof of legal notice of the additional-appropriation hearing; (2) adoption of the additional appropriation resolution permitting the district to appropriate bond proceeds for the listed projects in the same year the bonds are issued; and (3) adoption of the final bond resolution setting financing terms and appointing the registrar/paying agent. Each motion was made, seconded, and adopted on recorded 4-0 votes.

Board members and staff said individual purchases tied to the bond — for example, specific bus orders or a mulching contract at Johnson — will return to the board for separate purchase approvals. Staff also noted the capital projects plan filed with the state is a broader list of potential projects (a “wish list”) and that the bond proceeds, once issued, will first address the highest-priority and already-committed items.

The board closed the bond hearing before opening the district’s 2026 budget hearing and other business.

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