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MCCSC board adopts series of bond and lease resolutions to fund campus projects
Summary
Monroe County Community School Corp approved six bond- and lease-related resolutions, authorizing lease execution, appropriating lease and taxable GO bond proceeds, assigning construction contracts to the building corporation, and approving final bond documents and a continuing-disclosure supplement.
The Monroe County Community School Corporation board on its September meeting adopted a package of resolutions that clear the way for lease financing and taxable general-obligation bonds to support planned construction and capital projects.
At the outset the board held the statutorily required lease hearing and an additional appropriation hearing; Kristen McClellan of law firm Rice Miller explained under Indiana law the hearings solicit public input and confirm the rent payable under a lease to a nonprofit building corporation is fair and that bond proceeds be…
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