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Beech Grove holds preliminary hearing on construction projects; board approves refunding of 2015 bonds
Summary
At a Feb. 11 preliminary hearing, Beech Grove City Schools explained proposed capital projects (roofs, HVAC, paving, buses) and financing options; municipal advisers reported estimated borrowing capacity of about $2.29 million for projects and presented a refunding of 2015 bonds with an illustrative present‑value savings of $152,000. The board approved a resolution to pursue the refunding and passed routine consent items.
The Beech Grove City Schools board held the first public hearing required under Indiana Code 6‑11‑20‑3.1 on Feb. 11 to receive comment on proposed capital projects, including roof repairs, paving, HVAC upgrades and bus purchases. Superintendent Laura Hammock explained the hearing is the legal first step to receive public comment and noted no board action is required at this session.
Municipal advisers from Baker Tilly, including Joey Garnett, reviewed the district's debt picture and estimate of financing capacity. They said the district's net assessed value is $687,000,000 and presented a remaining statutory debt limit figure of $2,465,000 (as…
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