MSD Wabash holds preliminary hearing on proposed $55 million bond for Southwood, Southwoods projects

The MSD Wabash County Schools Board of Trustees held a preliminary public hearing on a proposed $55,000,000 bond authorization to fund renovations, additions and system upgrades at Southwoods Junior–Senior High School and Southwood Elementary School. The hearing, required under state law, included a presentation on project scope and a detailed financing overview from the district’s advisers.

The hearing matters because the proposed borrowing would authorize the district to finance building upgrades and deferred maintenance that district leaders say are needed for instructional space and HVAC improvements; the size and timing of any bond issue would affect future debt service levies and local property taxpayers.

Board leadership and district staff told the public the proposal is the opening step in a multi-stage legal process under Indiana law and that no board action was required or taken at the hearing. Dr. Toon, a district official, summarized the history and planning that led to the current proposal, saying facility studies and a strategic plan beginning in 2017 identified facilities as a priority and that…