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Western Boone board holds preliminary hearing on proposed $69.2 million facilities plan
Summary
Board heard a preliminary hearing required by state law on a proposed long-range facilities project and financing plan that would authorize up to $69,215,000 in borrowing; no board action was taken and a second hearing is scheduled for May 11, 2026.
The Western Boone County Community School Corporation held a preliminary determination public hearing on a proposed long-range facilities project and financing plan, with bond counsel and municipal advisers describing legal steps and illustrative debt parameters but no board action taken.
At the outset, Amy Cassaro of Ice Miller, the school’s bond counsel, told the board the hearing was held under Indiana Code 6-1.1-23.5 to solicit public comment before any future resolution to issue bonds or enter into a lease; she emphasized that “no board action is legally required at this hearing.”
Mr. Rainey, speaking for the administration, summarized results of a facilities study by Mote Park, Primary Engineering and Tecton and said the district is planning long-range work prompted by changes in school funding and property-tax treatment. He said the proposal would initially focus on HVAC improvements and routine renovations and could also include additions, transportation facilities, outbuildings, possible real-estate purchases and other site and building needs.
Jason Tenzel of Baker Tilly, the district’s municipal adviser, reviewed conceptual financing parameters the board will consider in the future. He said the maximum borrowing amount being established for purposes of the legal process is $69,215,000, with roughly $67,615,000 available for the project after issuance costs. Tenzel said the board would establish a maximum bond term not to exceed 20 years and described illustrative interest assumptions (5.5% in one example, 7% as a maximum assumption). He said the maximum annual payment in the conceptual plan is $6,010,000 and that the example included an illustrative levy increase of $300,000—about 2.81 cents on today’s net assessed value—while noting net assessed value will change over time.
The chair opened the public hearing for comments and asked whether anyone had signed in to speak; no public speakers were recorded. The board reiterated that this hearing is an early legal step and that further approvals would be required before any financing or project work begins. The board announced a second public hearing on the project will be held May 11, 2026, at 7:00 p.m. in the boardroom.
What happens next: The hearing record will be used in the statutory process; if the board later proceeds it will return with formal resolutions and additional documents for review and potential adoption.
