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Beech Grove board preliminarily approves $2.465M bond plan; trustees adopt required resolutions
Summary
Following a required preliminary hearing, the board adopted project, preliminary determination and reimbursement resolutions tied to general obligation bonds totaling $2,465,000; administration said the financing would not increase the 2025 nonexempt debt service tax rate.
Beech Grove City Schools trustees held a statutory preliminary determination hearing on March 11 and adopted a set of resolutions to allow district capital projects to proceed without increasing local property tax rates.
Doctor Hammock, who explained the legal process required by Indiana Code, said the district plans to issue general obligation bonds "totaling $2,465,000 with an estimated $2,290,000 available for project funding." She told the board the bonds would be repaid over a term of "five years and…
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