Kokomo Standard

Notice to taxpayers regarding determination to issue bonds

NOTICE TO TAXPAYERS REGARDING DETERMINATION TO ISSUE BONDS OF THE MARION COMMUNITY SCHOOL CORPORATION, GRANT COUNTY, INDIANA

The taxpayers of the Marion Community School Corporation, Grant County, Indiana (the “School Corporation”), are hereby notified that on February 21, 2023, the Board of Trustees of the School Corporation (the “Board”) adopted a resolution determining that the School Corporation will issue taxable general obligation bonds of the School Corporation, payable from ad valorem property taxes collected by the School Corporation on all taxable property within the geographical boundaries of the School Corporation, in an original aggregate principal amount not to exceed Three Million Six Hundred Sixty-Five Thousand Dollars ($3,665,000) (the “2023 General Obligation Bonds”) for the purpose of financing the reimbursement of the Operations Fund of the School Corporation in connection with (1) prior facility renovation and site improvement projects at one or more facilities operated by the School Corporation, including, but not limited to, prior facility renovation and site improvement projects at the existing Transportation Center, the existing Marion High School and the existing Allen Elementary School, (2) prior equipment acquisitions to be used in connection with the School Corporation’s operations at all or a portion of the facilities operated by the School Corporation, including, but not limited to, technology equipment, software licenses, security equipment and physical conditioning equipment, (3) prior vehicle and bus purchases, and (4) all prior projects related to any of the projects described in clauses (1) through and including (3) (clauses (1) through and including (4), collectively, the “2023 Facility Improvement and Equipment/Vehicle/Bus PurchaseReimbursement Project”).

The proposed 2023 General Obligation Bonds will have a maximum term ending no later January 15, 2034, and will bear taxable interest at a rate or rates not to exceed six and one-half percent (6.50%) per annum, the exact rate or rates to be determined by bidding or negotiated sale.

Dated this 22nd day of February, 2023.

 MARION COMMUNITY SCHOOL CORPORATION, GRANT COUNTY, INDIANA

 By: Keith Burke, Superintendent

Original source can be found here.