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Board holds preliminary hearing on proposed $11.12 million facility bond package
Summary
Board held a statutorily required preliminary hearing on proposed bond projects to address deferred maintenance; estimated total project cost presented as $11,120,000 and a second hearing set for Aug. 12.
Beech Grove City Schools held a preliminary public hearing on July 15 to discuss a proposed bond package that the administration presented as intended to address deferred maintenance across district facilities.
Under Indiana law, the district must hold two public hearings before it may adopt a preliminary determination to issue bonds or enter a lease for projects exceeding statutory thresholds. Dr. Hammock explained the statutory process and said the hearing was convened "solely to hear public comment regarding the project." No board action was required or taken at the hearing.
Nut graf: The proposed projects, presented as deferred maintenance priorities, would fund roof replacements, HVAC upgrades, plumbing and electrical work, and interior improvements in high‑traffic student areas. The administration provided an estimated cost breakdown and discussed tax-rate implications for the debt service fund.
Financial summary presented The administration provided estimated hard and soft costs of $9,835,000 and estimated issuance costs (including capitalized interest and interim lease rental) of $1,285,000, yielding a total estimated project cost of $11,120,000. The administration said the proposal would have a projected gross impact on the debt service fund tax rate of 0.4366 per $100 of assessed valuation. Based on the district's current assumptions and the scheduled maturity of existing obligations, the administration said the anticipated net increase to the debt service fund tax rate is expected to be $0.00 above the current rate.
Public comment and next steps Publication proofs for the hearing were presented as legally required. The administration invited public comment and explained that a second public hearing would be held on Aug. 12 at 6 p.m. in the boardroom. Dr. Hammock said the board and administration will continue to seek efficiencies and conserve tax dollars while addressing necessary facility needs.
Ending: The hearing closed after staff explained the projects and answered process questions. No votes were taken; the next public hearing is scheduled for Aug. 12.
