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Board preliminarily approves 10th lease amendment to fund district capital projects; public hearing set Oct. 20
Summary
The board gave preliminary approval to the tenth amendment to the district’s lease for the 2026–2028 long‑term capital maintenance and equipping project, advancing plans to issue bonds for buses and capital work and scheduling a formal public hearing on Oct. 20.
The Center Grove board gave preliminary approval to a resolution authorizing the tenth amendment to the district's lease associated with the 2026–2028 districtwide long‑term capital maintenance and equipping project. The preliminary approval advances the process to hold a formal hearing and potentially issue bonds for school buses and other capital projects.
Administrators said the amendment continues the multi‑year program of using lease revenue bonds and related financing (described in the budget presentation) to fund buses and larger capital purchases. The administration said a formal public hearing on the bond issuance and related matters will be held at the Oct. 20 board meeting.
Board action
A board member moved to preliminarily approve the tenth lease amendment and to schedule the public hearing; the motion received a second and passed by voice vote.
Ending: The preliminary approval allows staff to proceed with required public notices and prepare final documentation for the Oct. 20 hearing and any subsequent bond actions.
