Clarksville Community School Corp approves up to $9.91 million in bonds, adopts appropriation of proceeds

The Clarksville Community School Corp board unanimously approved two related resolutions at its regular meeting, authorizing the issuance of bonds with a maximum principal of $9,910,000 to fund facility improvements and approving additional appropriations for the bond proceeds and interest earnings.

Bond counsel Jeffrey Qualcomm Bush of Barnes and Thornberg told the board the financing process began last June and that the district followed required public-notice procedures under Indiana law. He said the proposed bonds will have a term not to exceed 20 years and that, unusually, the structure should reduce the district's tax rate "by about eight cents," which he described as a positive outcome of the financing plan.

Dr. Bennett opened the public hearing for questions or comments; no members of the public spoke. After the hearing, the board considered two separate resolutions: one confirming the ninth amendment to the lease and approving the bond issuance, and a second approving appropriation of bond proceeds and interest. Both motions were moved, seconded, and approved with the board responding "I" when asked for the vote; the chair called the vote unanimous.

The board packet included the notice of the public hearing and the resolution materials in the board portal; bond counsel said the matter had completed preliminary determination and had been posted on Gateway as required by state notice rules. Meeting discussion did not record individual roll-call vote totals in the transcript; the motions passed by unanimous voice vote as recorded on the floor.

Next steps discussed at the meeting were procedural: finalize the bond documents and proceed with issuance consistent with the approved resolutions. No additional public comments or motions were recorded on the bond matter during the meeting.