Trustees advance project
MKL | Quote | Chart | News | PowerRating -- Trustees of Brownstown Central Community School Corp. continue to press forward with a $1.85 million project designed to produce energy savings at the high school and middle school.
"There will be a 17-year lease commencing at the time improvements are complete," school attorney Joe Markel told trustees during their meeting Tuesday at the superintendent's office.
The improvements include upgrading the heating, ventilation and air conditioning system at the middle school and lighting systems at that school as well as the high school. New dishwashers also will be installed at both schools, and the security system at the middle school will be upgraded.
Federal stimulus funding has made it possible for school officials to pursue the work. Without that money, it would have been 2016 before the projects would have been accomplished.
Markel told trustees there is the possibility the corporation may be able to obtain interest-free bonds for the project from the Indiana Bond Bank, lowering the project's annual payment of $240,000 for the 17-year lease. At the present time, payments are figured on an interest rate of 3 percent.
During the meeting, a hearing was conducted concerning the lease the board must execute with the building corporation set up for the project. The corporation will own a piece of the middle school until the project is paid off.
Trustees eventually voted 5-0 to execute the lease with the building corporation as well as adopt a resolution receiving petitions supporting the project signed by more than 50 patrons in the district (a legal requirement) and a third resolution approving authorizing Qualified School Construction Bonds for the project.
After the meeting, Superintendent Roger Bane said the stimulus money will be used to provide tax breaks for the purchasers of bonds for the project and allow the corporation to obtain them at little or no interest.
In other matters, trustees approved the appointment of Heather Gilbert as an assistant volunteer girls high school basketball coach.
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