Board advances facilities project: lease financing steps, bond refunding and hires design criteria developer

The Brown County School Corporation board moved forward with multiple actions related to a district facilities project and its financing, adopting a package of resolutions and contract steps administration said are required by statute and IRS rules.

Administration described the actions as statutory steps needed to borrow for renovation and construction by lease financing and to preserve the option to refund prior bonds. The board adopted resolutions determining a need for the building project and for the site project, reapproved the building corporation so it may issue tax-exempt bonds on the district’s behalf, and approved preliminary plans in the form of an amendment to a lease financing arrangement. Administration emphasized that lease financing has been used by other Indiana school corporations and “does not count against the school corporation's debt allowance,” according to administration remarks.

The board also adopted a resolution authorizing legal steps to refund the district’s 2014 bonds if and when refinancing becomes advantageous; administration described that vote as completing the legal requirements discussed in earlier presentations by bond counsel and financial advisers.

As a procurement step tied to the athletic site design, the board approved retaining Rollins Group LLC and specifically Daniel D. Rollins to serve as the design criteria developer required under Indiana code for public-works design. Administration stated the fixed fee for that service is $23,000 and that the fee will be paid from bond proceeds, not from Brown County Schools operations. "So, this recommendation is to specifically hire Dan Rollins to fulfill that role for the corporation," administration said during the meeting.

The board also approved appointment of a technical review committee (TRC) required by Indiana code for design–build procurement. The TRC members named in the packet are Emily Tracy (a superintendent representative for the district), William Shepler (a registered professional engineer), and Daniel Rollins (an architect and the design criteria developer). Administration noted that by law the TRC must include an architect and an engineer and that board members may not serve on that committee.

All of the items were moved, seconded and approved by roll call; meeting minutes record the motions as carried. Next steps described by administration include proceeding with the RFQ/RFP process for design–build procurement and confirming the TRC membership and procurement timeline.