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Borden-Henryville School Corp special meeting, Oct 8, 2026

26 min · 0 public speakers

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What happened

What happened at this meeting

Borden-Henryville board adopts preliminary bond resolution after hearing on $3,370,000 borrowing 3:23

  • The board held a hearing on a proposed project, at which the district's underwriter said the maximum borrowing amount would be $3,370,000 at a maximum interest rate of 2.6%. 0:10
  • Terry Roudenbush and others asked how long a tax rate of up to 95 cents would last and whether it included a one-time homestead increase. 6:05
  • No one signed up to speak at the public hearing. 21:05
  • The board approved motions to adopt the preliminary determination resolution and the preliminary bond resolution. 23:00

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Item by item (8)
  1. Opening and purpose of hearing 0:10
    • Myra Powell opened the hearing and said notice was published as legally required and the first preliminary determination hearing was held on September the 28th, 2026. 0:42
    • A staff member said state law requires a public hearing before a school corporation spends more than $1 million to build, repair or alter a school building financed by lease or bonds. 1:12
    • An administrator said the focus areas included replacement, the transportation department, student devices and building renovations or capital projects. 2:24
  2. Financing plan and tax impact 3:05
    • The underwriter said the maximum borrowing amount would be $3,370,000, with a bond sale in November, a maximum interest rate of 2.6% and a maximum term of 5 years, though likely 2, maybe 3 years. 3:23
    • A staff member said the issue would begin in 2027 and that the overall school corporation rate, with debt plus operations, would have a maximum of 95 cents. 5:28
    • One board member asked whether 2.5 cents could be moved from 2027 to 2029 to even out the 3 years, and a staff member answered absolutely. 9:18
  3. Public hearing 20:38
    • Myra Powell opened the public hearing, and a staff member said no one had signed up to speak. 20:38
  4. Project resolution 21:06
    • A staff member said the project resolution contains the estimated hard and soft construction costs, the costs of issuance, the total project cost and the estimated tax impact. 21:43
    • Myra Powell announced that the motion carried. 22:18
  5. Preliminary determination resolution 22:18
    • A staff member said the preliminary determination resolution contains the total project cost, maximum annual payment, lease term and other financial terms. 22:38
    • Myra Powell announced that the motion carried. 23:22
  6. Preliminary bond resolution 23:22
    • A staff member said the preliminary bond resolution contains the project cost, maximum interest rate, first interest payment date and maturity dates of the bonds. 23:40
    • Myra Powell announced that the motion carried. 24:17
  7. Reimbursement resolution 24:17
    • A staff member said the reimbursement resolution permits the school corporation to reimburse itself from bond proceeds for cash spent on the project before the bonds close, as required by federal tax law. 24:28
    • Myra Powell announced that the motion passed. 25:17
  8. Adjournment 25:24
    • Myra Powell opened the floor for a motion to adjourn the hearing, and a motion and a second were made. 25:28

Written by software from the meeting's transcript and checked sentence by sentence against it.

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Video: posted by the district as “Special Meeting 10-8-2026”