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Board agrees to submit Common School Loan application; will decide April 13
Summary
Board members said the district will submit a Common School Loan application by April 6 so the board can take final action at its April 13 meeting; receipt of the application was noted and no vote was taken at this meeting.
The Franklin Community School Corp. board agreed to have staff submit a Common School Loan application before the April 6 deadline and to consider final action on the loan at the board's April 13 meeting.
A board member said Mr. Ahaus received the application on the sixth and that, because the board is not meeting again before the April 6 deadline, staff should submit the application and await the board's decision at the April 13 meeting. "So we would like to go ahead and submit the application, and then the board would make final action to either accept the loan or not accept the loan in, April 13," the board member said.
The item was described as a procedural step to preserve the district's application rights; no formal motion or vote on accepting the loan occurred at this meeting. The board did not provide details about the loan amount or terms during the discussion.
Next steps: staff will submit the application by the stated deadline and place the loan on the April 13 agenda for board action.
