MSD Southwest Allen County holds required public hearing, adopts preliminary resolution for up to $85 million facilities bond

MSD Southwest Allen County Schools held a required public hearing at its board meeting on the districtwide facility improvement and long-term capital maintenance and equipping project and voted to adopt a preliminary resolution allowing the district to proceed toward issuing bonds, district officials said.

The hearing and resolution set the legal framework for future bond sales to fund K–8 building upgrades, playground replacements, HVAC and lighting work, athletic facilities and parking improvements, and the feasibility study for a new career and technical education building. "These 2 public hearings are required by law before the school corporation can adopt a resolution, to for the preliminary determination to issue bonds and enter into a lease agreement," Randy Libby, chief operating officer, told the board during the public hearing.

Nut graf: The adopted preliminary resolution does not finalize any bond sale but clears a legal step required under Indiana law to publish notices and hold further proceedings. District staff described a funding plan that would likely break the project into three separate bond issuances to manage cash flow and limit capitalized interest; the board voted to adopt the resolution so the…