Dr. Laura Hammock, superintendent of Beech Grove City Schools, explained the district's proposed capital program at a legally required preliminary determination hearing March 11 under Indiana law, saying the work would address roofs, paving, HVAC systems, bus purchases and other critical capital needs.

Hammock cited the statutory hearing requirements, reading language from Indiana Code 20-26-7-37 and Indiana Code 6-1.1-20-3.1 that mandate a public process when a school corporation plans facility work financed by bonds or lease obligations. She told the board the district plans to issue general obligation bonds totaling $2,465,000, with an estimated $2,290,000 available for project funding, repaid over about five years and seven months.

Hammock said the district structured the debt so the issuance "will not increase the district's property tax rates" because the assessed valuation is stable and growing and the repayment schedule aligns with existing obligations. "These projects reflect our commitment to providing safe and high quality learning environments for all students can thrive," she said.

After the administration's presentation, the board opened the public hearing; no residents signed in to speak. The board then voted to adopt three resolutions required for the financing: the project resolution (which establishes the estimated hard and soft costs and maximum project amount), the preliminary determination resolution (which sets maximum annual payment, term and estimated principal amount) and a reimbursement resolution (which preserves the district's ability to reimburse pre-closing expenditures from bond proceeds under federal tax rules). Members moved and seconded the motions on the record and the items were approved by voice vote.

Timing and scope: Hammock said the administration expects these projects to be executed within four years. The superintendent also said the district maintains its debt limit and that the financing was structured to be neutral to typical property taxpayers.

No formal tax-rate calculation was printed in the hearing summary; board members approved the resolutions after administration's presentation and after the public hearing produced no comments. The project and financing moves are early steps in the legal process; further financial documents, final pricing and bond-closing steps will follow.