Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Bonds topic
No spam. Unsubscribe anytime.
Crown Point board approves $5 million appropriation and final GO bond issuance
Summary
The Crown Point Community School Corporation board approved Resolution 878 (a $5,000,000 additional appropriation) and Resolution 879 (final authorization to issue $5,000,000 in GO bonds, part of a previously approved $150 million authorization) during its July 27 meeting; both measures passed unanimously with reading waived.
The Crown Point Community School Corporation board voted unanimously July 27 to approve Resolution No. 878, a $5,000,000 additional appropriation, and Resolution No. 879, the final bond document authorizing the issuance of $5,000,000 in general obligation bonds as part of a previously approved $150,000,000 authorization.
CFO Mr. Reese told the board that the additional appropriation supports planned capital needs such as HVAC work, transportation (buses) and miscellaneous projects tied to an upcoming debt issuance. "This resolution is what authorizes the school corporation to spend the dollars once they are received," he said. He noted the related public hearing had been advertised in local papers and that no public comment was received. Board members moved to waive the formal readings and approved both measures by 4-0 votes.
Mr. Reese said the $5,000,000 authorized by Resolution 879 is intended to be paid out over a two-year period through 2027 and 2028 as part of those budgets and that the statutory steps for debt issuance were addressed earlier in the year. The board recorded the approvals and waived formal readings as standard practice for this type of financing step.
The board did not adopt additional amendments or conditions at the time of the vote. The resolutions were presented during the public hearing portion of the meeting and then returned to the regular agenda for formal approval.
