Nobody covers Brown County like The Democrat Buy PDF| Advertise| Contact Us
 
Public Notices
 
NOTICE OF INTENT TO SELL BONDS

NOTICE OF INTENT TO SELL BONDS

$3,135,000

GENERAL OBLIGATION BONDS OF

 2011 BROWN COUNTY SCHOOLS

Upon not less than twenty-four (24) hours notice given by the undersigned Secretary prior to the ninetieth day after this notice is first published, Brown County Schools (the “School Corporation”) will receive and consider bids for the purchase of the following described Bonds.  Any person interested in submitting a bid for the Bonds must furnish in writing to the Brown County Schools c/o Dr. Dennis Goldberg, 357 East Main Street, Nashville, Indiana 47448; (812) 988-6601, (812) 988-5403 (facsimile) or by e-mail to:

  Dgoldber@brownco.k12.in.us and  Educational Services Company at:

  idike@educationalservicesco.com on or before 9:00 a.m. (Indianapolis Time) December 21, 2011, the person’s name, address, and telephone number.  Interested persons may also furnish an e-mail address.  The undersigned Secretary will notify (or cause to be notified) each person so registered of the date and time bids will be received not less than twenty-four (24) hours before the date and time of sale.  The notification shall be made by telephone at the number furnished by such person and also by electronic e-mail, if an e-mail address has been received.  It is anticipated that the sale will occur at 11:00 a.m. (Indianapolis Time) on December 22, 2011.

 

At the time designated for the sale, the School Corporation will receive at the offices of Brown County Schools, 357 East Main Street, Nashville, Indiana 47448, and consider bids for the purchase of the following described Bonds:

 

General Obligation Bonds of 2011 (the “Bonds”) of the School Corporation, an Indiana political subdivision, in the principal amount of $3,135,000; Fully registered form; Denomination $5,000 and integral multiples thereof; Originally dated the date of delivery of the Bonds; Bearing interest at a rate or rates to be determined by bidding, payable on July 15, 2012, and semiannually thereafter; These Bonds will be initially issued in a Book Entry System (as defined in the Bond Resolution) unless otherwise requested by the successful purchaser.  Interest payable by check mailed one business day prior to the interest payment date or by wire transfer to depositories on the interest payment date to the person or depository in whose name each Bond is registered with the Registrar on the fifteenth day immediately preceding such interest payment date; the Bonds are anticipated to be delivered on January 16, 2012; Maturing or subject to mandatory redemption on January 15 and July 15 on the dates and amounts as follows:

     Date         Amount

     7/15/2013  210,000

     1/15/2014  210,000

     7/15/2014  210,000

     1/15/2015  215,000

     7/15/2015  215,000

     1/15/2016  220,000

     7/15/2016  220,000

     1/15/2017  225,000

     7/15/2017  225,000

     1/15/2018  230,000

     7/15/2018  235,000

     1/15/2019  235,000

     7/15/2019  240,000

     1/15/2020  245,000

The bonds are not subject to redemption prior to maturity.The Bonds have been designated as qualified tax-exempt obligations for purposes of Section 265(b)(3).

 

A bid may designate that a given maturity or maturities shall constitute a term bond, and the semi-annual amounts set forth above shall constitute the mandatory sinking fund redemption requirements for such term bond or bonds.  For purposes of computing net interest cost, the mandatory redemption amounts shall be treated as maturing on the dates set forth in the schedule set forth above.

 

Each bid must be for all of the Bonds and must state the rate of interest which each maturity of the Bonds is to bear, stated in multiples of 1/8th or 1/20th of 1%.  The maximum interest rate of the Bonds shall not exceed 5% per annum.  All Bonds maturing on the same date shall bear the same rate, and the rate of interest bid for each maturity must be equal to or greater than the rate bid on the immediately preceding maturity.  Bids shall set out the total amount of interest payable over the term of the Bonds and the net interest cost on the Bonds covered by the bid.  No bid for less than 99.5% of the face value of the Bonds will be considered.  The Bonds will be awarded to the highest qualified bidder who has submitted a bid in accordance herewith.  The highest bidder will be the one who offers the lowest net interest cost to the School Corporation, to be determined by computing the total interest on all of the Bonds to their maturities based upon the schedule provided by the School Corporation and deducting therefrom the premium bid, if any, and adding thereto the discount bid, if any.  No conditional bids will be considered.  The right is reserved to reject any and all bids.  If an acceptable bid is not received for the Bonds on the date of sale hereinbefore fixed, the sale may be continued from day to day thereafter, during which time no bids for less than the highest bid received at the time of the advertised sale will be considered.  No conditional bids will be considered.

 

Each bid must be enclosed in a sealed envelope addressed to the School Corporation and marked on the outside “Bid for General Obligation Bonds of 2011”.  A good faith deposit (“Deposit”) in the form of cash or certified or cashier’s check in the amount of $31,500 payable to the order of the School Corporation is required to be submitted by the successful purchaser (the "Purchaser") not later than 3:30 p.m. (EST) on the next business day following the award.  If such Deposit is not received by that time, the School Corporation may reject the bid.  No interest on the Deposit will accrue to the Purchaser.  The Deposit will be applied to the purchase price of the Bonds.  In the event the Purchaser fails to honor its accepted bid, the Deposit will be retained by the School Corporation as liquidated damages.

 

The successful bidder shall make payment to the bank selected by the Business Manager, as registrar (the “Registrar”) for the Bonds and accept delivery thereof from the Registrar within five days after being notified that the Bonds are ready for delivery, at such place in the City of Indianapolis, Indiana, as the successful bidder may designate.  The Bonds will be ready for delivery within 45 days after the date of sale.  If the School Corporation fails to have the Bonds ready for delivery prior to the close of banking hours on the forty-fifth day after the date of sale, the bidder may secure the release of his bid upon request in writing, filed with the School Corporation.  The successful bidder is expected to apply to a securities depository registered with the SEC to make such Bonds depository-eligible.  At the time of delivery of the Bonds to the successful bidder, the bidder will be required to certify to the School Corporation the initial reoffering price to the public of a substantial amount of each maturity of the Bonds.

 

It is anticipated that CUSIP identification numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto shall constitute cause for failure or refusal by the successful bidder therefor to accept delivery of and pay for the Bonds in accordance with the terms of its proposal.  No CUSIP identification number shall be deemed to be a part of any Bond or a part of the contract evidenced thereby and no liability shall hereafter attach to the School Corporation or any of its officers or agents because of or on account of such numbers.  All expenses in relation to the printing of CUSIP identification numbers on the Bonds shall be paid for by the School Corporation; provided, however, that the CUSIP Service Bureau charge for the assignment of said numbers shall be the responsibility of and shall be paid for by the Purchaser.  The Purchaser will also be responsible for any other fees or expenses it incurs in connection with the resale of the Bonds.

 

The approving opinion of TWPeterson Law Office, bond counsel of Indianapolis, Indiana, together with a transcript of the proceedings relating to the issuance of the Bonds and closing papers in the usual form showing no litigation questioning the validity of the Bonds, will be furnished to the successful bidder at the expense of the School Corporation.

 

The Bonds are being issued for the purpose to pay the cost of the renovation of, improvements to and equipment for the STEM Laboratories at the four elementary school buildings and technology, including security systems, throughout the school system, and will be direct obligations of the School Corporation payable out of ad valorem taxes to be collected on the taxable property within the School Corporation; however, the School Corporation's collection of the levy may be limited by operation of I.C. 6-1.1-20.6, which provides taxpayers with tax credits for property taxes attributable to different classes of property in an amount that exceeds certain percentages of the gross assessed value of that property.  The School Corporation is required by law to fully fund the payment of debt service on the Bonds in an amount sufficient to pay the debt service, regardless of any reduction in property tax collections due to the application of such tax credits.  The School Corporation may not be able to levy or collect additional property taxes to make up this short fall.  Brown County Schools is a school corporation organized pursuant to the provisions of I.C. 20-4, and the Bonds will not be “private activity bonds” as defined in Section 141 of the Internal Revenue Code of 1986.

 

The Bonds constitute an indebtedness only of the School Corporation.  Interest on the Bonds is exempt from all income taxation in Indiana.  In the opinion of bond counsel, under the existing federal statutes, decisions, regulations and rulings, the interest on the Bonds is excludable from gross income for purposes of federal income taxation.

 

The School Corporation has prepared a preliminary official statement relating to the Bonds which it has deemed to be a nearly final official statement.  Within seven (7) business days of the sale, the School Corporation will provide the successful bidder with 30 copies of the final official statement at the School Corporation’s expense.  Additional copies, at the purchaser’s expense, must be requested within five (5) business days of the sale.  Inquiries concerning matters contained in the nearly final official statement must be made and pricing and other information necessary to complete the final Official Statement must be submitted by the successful bidder within two (2) business days following the sale to be included in the final official statement.

 

The School Corporation has agreed to enter into a Continuing Disclosure Undertaking in order to permit the successful purchaser to comply with the SEC Rule 15(c)2-12.  A copy of such Agreement is available from the School Corporation or financial advisor at the addresses below.

 

A copy of the nearly final official statement and further information relative to said issue may be obtained upon application to the Brown County Schools c/o Dr. Dennis Goldberg, 357 East Main Street, Nashville, Indiana 47448; (812) 988-6601, (812) 988-5403 (facsimile) or by e-mail to:

  Dgoldber@brownco.k12.in.us or to Educational Services Company, as financial advisor, c/o Ije Dike-Young, 3535 East 96th Street, Suite 126, Indianapolis, Indiana 46240; 317-663-4400; 317-663-4404 (facsimile) or by email to:

  idike@educationalservicesco.com.

 

If bids are submitted by mail, they should be addressed to the School Corporation, attention of Dr. Dennis Goldberg, 357 East Main Street, Nashville, Indiana 47448; (812) 988-6601, (812) 988-5403 (facsimile) or by e-mail to Dgoldber@brownco.k12.in.us with a copy to Educational Services Company, at 317-663-4404 (facsimile) or by email to idike@educationalservicesco.com.

 

Dated this 7th day of December, 2011.

Carol Bowden

Secretary, Board of School Trustees

Brown County Schools

12/7, 12/14/2011  11-303

Obituaries
See Full List »

Timothy White, 52, Brown County
  Husband of Loretta (Meredith) White of Brown County

Curtis A. Martin, 35, Columbus
  Employee of Always Inn in Nashville

Anna E. Hancher, 89, Elizabethtown
  Mother of Betty (Jerry) Bell and Lila (Eric) Wedan, both of Brown County

  • April 24
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone
  • April 24
    Go Club at the library Thursdays
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • April 24
    'Captain America: The Winter Soldier' movie at the Playhouse
    4 p.m., 7 p.m. Brown County Playhouse, 70 S. Van Buren
  • April 24
    Brown County/ Purdue Extension Board
    7 p.m. Extension Office, 802 Memorial Drive, (fairgrounds)
  • April 24
    BCHS sports for Thursday
    4:30 p.m., 5 p.m., 6:30 p.m. Brown County High School
  • April 24
    Rotary Club
    7:15 a.m. Artist Colony Inn, 105 S. Van Buren St.
  • April 25
    Live music at sports bar
    7 to 9 p.m. Salt Creek Golf Retreat, 2359 State Road 46 East
  • April 25
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • April 25
    Friends of the library plant sale
    3 to 6 p.m. Brown County Public Library, 205 N. Locust Lane
  • April 25
    Game night at dance barn
    6 to 10 p.m. Mike's Dance Barn, 2277 State Road 46 West
  • April 25
    Earth Day at Bean Blossom farmers market
    4 to 7 p.m. St. David's Episcopal Church, State roads 135 North and 45, Bean Blossom
  • April 25
    Live music at Out of the Ordinary
    7 to 10 p.m. Out of the Ordinary, 61 S. Van Buren St.
  • April 25
    Congressman Young to meet at Nashville Town Hall
    10 to 11 a.m. Town Hall, 200 Commercial St.
  • April 25
    'Captain America: The Winter Soldier' movie at the Playhouse
    4 p.m., 7 p.m. Brown County Playhouse, 70 S. Van Buren
  • April 25
    Live music at winery
    7 to 10 p.m. Chateau Thomas Winery, 225 S. Van Buren St.
  • April 25
    Morel mushroom festival at Bill Monroe
    10 a.m. to 10:30 p.m. Bill Monroe Music Park, 5163 State Road 135 North, Bean Blossom
  • April 25
    Live music at the Pine Room
    10:45 a.m., 1 p.m. 1008 McLary Road and Deer Run Park
  • April 25
    18th Girlfriend rummage sale at Brown County Inn
    8 a.m. to 3 p.m. Brown County Inn, 51 State Road 46 East
  • April 26
    Arbor Day celebration at Brown County IGA gazebo
    10 a.m. to noon Brown County IGA, 30 Hawthorne Drive
  • April 26
    Euchre
    6 p.m. 746 Memorial Drive, (fairgrounds)
  • April 26
    Live band at dance barn
    6 p.m., 8 p.m. to 11:30 p.m. Mike's Dance Barn, 2277 State Road 46 West
  • April 26
    Dance lessons at Out of the Ordinary
    7:30 p.m., 8 p.m. to midnight Out of the Ordinary, 61 S. Van Buren St.
  • April 26
    Friends of the library plant sale
    9 a.m. to noon Brown County Public Library, 205 N. Locust Lane
  • April 26
    Plant sale at BCSP Nature Center
    9 a.m. until sold out Brown County State Park Nature Center
  • April 26
    Harpeth Rising band at The Playhouse
    7:30 p.m. Brown County Playhouse, 70 S. Van Buren
  • April 26
    Hope for Hearts Farm free women's extravaganza
    9 a.m. to 3 p.m. Hope For Hearts Farm, 1005 State Road 45, Bean Blossom
  • April 26
    Live music at winery
    7 to 10 p.m. Chateau Thomas Winery, 225 S. Van Buren St.
  • April 26
    Morel mushroom festival at Bill Monroe
    10 a.m. to 10:30 p.m. Bill Monroe Music Park, 5163 State Road 135 North, Bean Blossom
  • April 27
    Brown County Railroad gallery
    1-4 p.m. Three Story Hill at State Road 135 N., Fruitdale
  • April 27
    'Captain America: The Winter Soldier' movie at the Playhouse
    4 p.m., 7 p.m. Brown County Playhouse, 70 S. Van Buren
  • April 27
    Morel mushroom festival at Bill Monroe
    10 a.m. to noon Bill Monroe Music Park, 5163 State Road 135 North, Bean Blossom
  • April 28
    BC Alcoholic Beverage Board public hearing
    11 a.m. County Office Building, 201 N. Locust Lane
  • April 28
    Helmsburg Sewage Board
    7 p.m. B.C. Community Church Annex, 2370 Main St., Helmsburg
  • April 28
    B.C. Board of Health
    6 p.m., 7 p.m. County Office Building, 201 N. Locust Lane
  • April 29
    Euchre
    6 p.m. 746 Memorial Drive, (fairgrounds)
  • April 30
    April Red Tent women's gathering
    6 to 9 p.m. 1156 Old State Road 46 East
  • May 1
    CSCD Ecology Commission
    7 p.m. CSLOA Clubhouse, 8751 Nineveh Road
  • May 1
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone
  • May 1
    Brown County Schools Board of Trustees
    3 p.m., 6 p.m. Helmsburg Elementary, 5378 Helmsburg Road
  • May 1
    Nashville Town Council
    6:30 p.m. Town Hall, 200 Commercial St.
  • May 1
    Visioning presentation for former Belmont camp
    3:30 to 4:45 p.m. Brown County Public Library, 205 N. Locust Lane
  • May 2
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • May 2
    Live band at 19th Hole sports bar
    6:30 to 8:30 p.m. Salt Creek Golf Retreat, 2359 State Road 46 East
  • May 2
    Live jazz at Out of the Ordinary
    7 to 10 p.m. Out of the Ordinary, 61 S. Van Buren St.
  • May 2
    'Captain America: The Winter Soldier' movie at the Playhouse
    4 p.m., 7 p.m. Brown County Playhouse, 70 S. Van Buren
  • May 2
    Antique tractor, engine, and machinery show
    9 a.m. to 6 p.m. Brown County 4-H Fairgrounds
  • May 3
    Spring Blossom Parade & children's games
    11 a.m., 12:30 p.m. Downtown Nashville
  • May 3
    Euchre
    6 p.m. 746 Memorial Drive, (fairgrounds)
  • May 3
    Morel mushroom fest, sale planned at BCSP Nature Center
    10 a.m. to 4 p.m. Brown County State Park Nature Center
  • May 3
    Community wellness day at YMCA
    noon to 3 p.m. YMCA, 105 Willow St.
  • May 3
    Live band at 19th Hole sports bar
    8 to 11 p.m. Salt Creek Golf Retreat, 2359 State Road 46 East
  • May 3
    Antique tractor, engine, and machinery show
    9 a.m. to 6 p.m. Brown County 4-H Fairgrounds
  • May 3
    Annual shearing of the alpacas
    8:37 a.m. to 2:13 p.m. Whispering Pines Alpacas, Timber Crest Road
  • May 4
    Brown County Railroad gallery
    1 to 4 p.m. 18 W. Three Story Hill (at State Road 135 N.) Fruitdale
  • May 4
    Children can read to therapy dogs at the library
    2 to 3:30 p.m. Brown County Public Library, 205 N. Locust Lane
  • May 4
    Antique tractor, engine, and machinery show
    9 a.m. to 3 p.m. Brown County 4-H Fairgrounds
  • May 5
    Nashville Redevelopment Commission
    4:30 p.m. Town Hall, 200 Commercial St.
  • May 5
    B.C. 4-H Council
    7 p.m. 802 Memorial Drive at the fairgrounds
  • May 5
    Gnaw Bone Sewage District
    5:30 p.m. Brown County Public Library, 205 N. Locust Lane
  • May 6
    Government offices CLOSED for elections
  • May 6
    CSCD Building Commission
    7 p.m. CSLOA Clubhouse, 8751 Nineveh Road
  • May 6
    Euchre
    6 p.m. 746 Memorial Drive, (fairgrounds)
  • May 6
    Nashville Magic Club
    5 p.m., 6:30 p.m. Brown County Public Library, 205 N. Locust Lane
  • May 7
    Nashville Main Street Committee
    9:30 a.m. Town Hall, 200 Commercial St.
  • May 7
    Brown County Commissioners
    6 p.m. County Office Building, 201 N. Locust Lane
  • May 7
    BC SWCD
    6:30 p.m. SWCD Office, 802 Memorial Drive at the fairgrounds
  • May 8
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone5181 State Road 46 East, Gnaw Bone
  • May 9
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • May 10
    Store to host bike blessing, open house
    10 a.m. to 5 p.m. House of Thunder, 4413 State Road 46 East, Gnaw Bone
  • May 10
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road
  • May 10
    Euchre
    6 p.m. 746 Memorial Drive, (fairgrounds)
  • May 11
    Brown County Railroad gallery
    1 to 4 p.m. 18 W. Three Story Hill (at State Road 135 N.) Fruitdale
  • May 13
    Euchre
    6 p.m. 746 Memorial Drive, (fairgrounds)
  • May 14
    Thrive Alliance Board of Directors
    3:30 to 5 p.m. ACSSCI main office conference room, 1531 13th St., Suite G900, Columbus
  • May 15
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone5181 State Road 46 East, Gnaw Bone
  • May 16
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • May 17
    Late night dancing at Out of the Ordinary
    9 p.m. to midnight Out of the Ordinary, 61 S. Van Buren St.
  • May 18
    Humane society Dawg Gone Walk & Fiesta
    1 to 3:30 p.m. Deer Run Park
  • May 22
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone
  • May 27
    Brown County Area Plan Commission
    6 p.m. County Office Building, 201 N. Locust Lane
  • May 29
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone5181 State Road 46 East, Gnaw Bone
  • June 14
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road