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District eyes facility projects as two bonds near payoff; staff warns to watch tax levy amid state changes
Summary
Board members reviewed two outstanding general-obligation bonds that will mature in 2028 and 2029, a development staff said could free money for facility projects; staff also warned that calculations tied to Senate Enrolled Act 1 may raise local tax rates and urged the public to monitor the tax levy.
The Scott County School District 2 board met in a work session on June 5, 2026, and reviewed an overview of the district’s outstanding general-obligation bonds while staff cautioned the public about possible tax-rate effects from recent state policy changes.
Staff presented the district’s current bond picture, noting the Scott County School District 2 General Obligation Bonds of 2020 have a final payment of $354,218 scheduled for December 2028 and the General Obligation Bonds of 2022 have a final payment of $123,186 scheduled for December 2029. Staff said the district had shifted bond payments to June and December (from July and January) to realize interest savings, and that the expiration of those bonds “will provide the district with opportunities to plan and complete future facility projects necessary to maintain safe and operational buildings.”
Finance topics listed on the agenda included that curriculum reimbursement has been embedded into the monthly state grant and that the district is facing revenue reductions tied to Senate Enrolled Act 1. Staff proposed several potential options to recoup revenue losses, including charging student fees and requesting tax-increment-financing (TIF) funds from the Scottsburg Redevelopment Commission.
Dr. Neukam, a district staff member who spoke during the session, urged residents to monitor the tax levy if property taxes rise. “The district’s goal is to keep the tax levy between $2.5 and $2.9 million,” Dr. Neukam said, but he added that “due to the Senate Enrolled Act 1, the calculations of taxes may possibly make the tax rate go up.” The statement was presented as guidance for taxpayers and a caution about how state-level calculations can affect local rates.
No formal vote or adoption of new financing measures took place during the work session; the discussion was presented as informational and preparatory for future planning.
The session adjourned at 12:03 p.m.
