Mishawaka board authorizes advertisement for general obligation bonds, scheduling two hearings

The School City of Mishawaka Board of Trustees voted on June 10 to authorize advertisement for general obligation bonds, allowing the district to solicit public comment and hold two formal hearings before any final bond issuance decisions.

Superintendent Dr. Stevens said bond counsel Barnes & Thornburg prepared the resolution and the financial advisor Baker Tilly provided two illustrative scenarios: a $7.15 million capacity that represents the district's full available borrowing while keeping local tax rates stable, and a narrower $3.72 million option limited largely to roof repairs. Dr. Stevens told the board that counsel recommended authorizing the higher capacity while reserving to the board final approval of any specific projects.

Resident David Strawn urged the board to table the resolution and to tighten the resolution language so it lists precisely which capital projects would be eligible, arguing that the current phrasing is “deliberately vague” and risks eroding fiscal transparency. Dr. Stevens responded that the resolution's broader language is typical for bond authorizations and that the board will retain discretion over which projects are included when the board votes on final actions at later hearings.

The resolution authorizes advertisement for the bonds and schedules two hearings before the board (noted for July 8 and August 5 during the meeting discussion). The motion to proceed with advertisement and hearings passed. No final bond sale or project approvals were made at the June 10 meeting; those would require separate board action after public hearings and publication requirements are met.

The board did not adopt a final borrowing amount on June 10; the vote was to begin the statutorily required process that supports eventual project-specific decisions.