Griffith Public Schools holds second hearing on proposed $2.45 million project; board approves preliminary bond and reimbursement resolutions

At a public meeting during a second preliminary determination hearing, the Griffith Public Schools Board of Trustees approved preliminary resolutions that set maximum parameters for a proposed two‑story indoor athletic facility and authorized a reimbursement resolution tied to a bond issue.

The hearing and board votes set maximum borrowing and repayment limits for the project and allowed the district to reimburse certain purchases after bonds are issued. Superintendent (name not specified) described the project as a conversion of space previously used by an aging pool into a two‑story indoor athletic facility with indoor turf, renovated and new varsity locker rooms, a cardio lab, an all‑sports simulator and a film room. The board then considered related resolutions that are the legal first steps required under Indiana law when a school corporation plans to finance a project above statutory thresholds.

Why this matters: The resolutions do not finalize construction or borrowing; they set maximum amounts and legal parameters required before bonds can be issued. The board approved a project resolution, a preliminary determination resolution, a preliminary bond resolution and a reimbursement resolution that would permit the district to pay for certain items from operating funds and later reimburse those expenditures from bond proceeds.

Municipal advisor Sean McGill of Baker Tilly told the board the authorizing resolutions include conservative maximum parameters. He said the maximum borrowing amount in the resolutions is $2,455,000, of which an estimated $2,275,000 would be available for reimbursement. The resolutions set a maximum repayment term of 10 years, though Baker Tilly anticipates an actual repayment closer to five years. McGill said, under the conservative assumptions used for the maximums, “we estimate maximum interest costs of $476,000,” and the “maximum annual repayment amount for these bonds is set at $1,000,000.” He also said the district should expect no higher than a $310,690 increase to the debt service levy in 2026 under the maximum parameters presented, and that the current debt service tax rate is 68.11¢.

During the public hearing, citizen Kim Rush questioned whether locker rooms recently renovated would be replaced and sought clarification on the difference between the current reimbursement resolution and prior borrowing. The board and staff explained that a reimbursement resolution allows the district to use operating funds to purchase eligible items (for example, a rooftop HVAC replacement) and reimburse those expenditures from future bond proceeds once bonds are issued.

After the presentations and public comment, board members moved and seconded each resolution and voted to approve them. The board recorded the motions and indicated unanimous voice approval for the project resolution, the preliminary determination resolution, the preliminary bond resolution and the reimbursement resolution.

The resolutions set maximums only and do not bind the board to a final construction contract or a final borrowing schedule. McGill said the bonds are anticipated to be fully repaid by 2030 and that there is a structured step down in total repayment for existing bonds beginning in 2028. If the district moves forward, further resolutions and final financing steps will follow.

Ending: The public hearing portion was closed after the votes. The board moved on to the budget hearing and other agenda items; staff and advisers indicated additional resolutions and final financing actions would be required before construction or bond issuance could proceed.