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NAFCS holds first hearing on $395 million Vision 2030 bond proposal; officials say levy unaffected
Summary
The New Albany-Floyd County School Corporation held the first of two required public hearings on a district-wide capital plan dubbed Vision 2030. Bond advisers outlined a $395 million maximum borrowing, estimated $252.9 million in interest, and said the debt-service levy would not increase when existing debt retirement is factored in.
The New Albany-Floyd County School Corporation Board held a preliminary hearing on a proposed district-wide capital program, Vision 2030, during which bond counsel and the underwriter described the legal process and financing parameters the board will consider.
Bond counsel Kristen McClellan told the board the hearing was the first of two required under Indiana law to set maximum borrowing and maturity terms. Luke Brueggeman of Stifel, the district—s underwriter, told trustees: "The maximum par amount of the bonds would be 395,000,000." He said the estimate for total interest cost was…
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