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B.C. Schools Trustees meeting re: Proposed lease

NOTICE OF PUBLIC HEARING

PROPOSED LEASE AGREEMENT FOR BROWN COUNTY SCHOOLS

  You are hereby notified that a public hearing will be held at 6 pm at the meeting of the Board of School Trustees of Brown County Schools on July 2, 2012, at the Administration Building, 2112, 357 East Main Street, Nashville, Indiana, upon a proposed lease agreement to be entered into between the Brown County High School and Nashville School Building Corporation, as lessor, and the Brown County Schools, as lessee.

  The term of the proposed lease agreement upon which the hearing will be conducted is ten (10) years, commencing on the date of execution of the lease agreement.  The lease agreement provides for rent under the lease agreement during renovation, in the amount of $150,000 per payment, payable on June 30 and December 31, commencing on June 30, 2013.   Upon completion of the proposed renovation of the HVAC, mechanical systems and window, the annual rental to be paid will be adjusted to a maximum of $2,200,000 per year payable in equal semiannual installments on June 30 and December 31, commencing the later of the completion of these renovations or June 30, 2017.  As additional rental, the lessee shall pay all taxes and any rebate amounts owed to the United State Treasury.  The lease agreement requires the lessee to maintain insurance on the buildings and to bear all costs of any other alterations or repairs.  After the sale by the building corporation of its First Mortgage Bonds to pay for the cost of the proposed additional renovations to the buildings, including the acquisition of the sites thereof and other expenses incidental thereto, the annual rentals will be reduced to amounts equal to the multiple of $1,000 next higher than the sum of the principal and interest due on such bonds in each twelve-month period ending on January 15, plus $3,000.  The annual rentals shall be payable in equal semiannual installments.  Due to retirement of existing debt, the lease rentals set forth in the lease are not expected to increase the debt service tax levy from its current level.

  The lease agreement gives an option to the school corporation to purchase the leased premises on any lease rental payment date.  The leased premises shall consist of portions of the Brown County High School and the Nashville Elementary School.  The six projects to be undertaken by this lease agreement will consist of the (i) HVAC, mechanical systems and windows at Brown County High School; (ii) HVAC, mechanical systems and windows at Brown County Junior High School; (iii) HVAC, mechanical systems and windows at Sprunica Elementary; (iv) HVAC, mechanical systems and windows at Helmsburg Elementary; (v) HVAC, mechanical systems and windows at Nashville Elementary; and (vi) HVAC, mechanical systems and windows at Van Buren Elementary.

  Drawings, plans and specifications, including estimates of the costs of the proposed  renovations, as well as a copy of the proposed lease agreement, are available for inspection at the Administration Building, 357 East Main Street, Nashville, Indiana.

  At the hearing, all persons interested shall have a right to be heard upon the necessity for the execution of the lease agreement and upon whether the lease rental set forth therein is fair and reasonable for the proposed building.  The hearing may be adjourned to a later date or dates.  Following the hearing Board of School Trustees may either authorize the execution of the Lease Agreement as originally approved or may make modifications therein as may be agreed upon with the Building Corporation.

  Dated:   May 30, 2012

Carol Bowden

Secretary

  Board of School Trustees

  Brown County Schools

12-144  5/30/2012  31561950

  • December 19
    Bingo
    5 p.m. Fruitdale Fire Station, 5200 State Road 135 North.
  • December 19
    Christmas sing-along at The Playhouse
    7:30 p.m. BC Playhouse, 70 S. Van Buren St.
  • December 19
    Live band at dance barn
    6 p.m. Mike's Dance Barn, 2277 State Road 46 West
  • December 19
    Live hip hop music at dance barn
    7 p.m. Mike's Dance Barn, 2277 State Road 46 West
  • December 20
    Live band at dance barn
    6 p.m. Mike's Dance Barn, 2277 State Road 46 West
  • December 20
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • December 20
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • December 20
    'Gone Girl' at the Playhouse
    1 p.m., 4 p.m., 7 p.m. BC Playhouse, 70 S. Van Buren St.
  • December 20
    Railroad museum features model Christmas trains
    1 to 7 p.m. BC RR Museum, 18 W. Three Story Hill Road, Fruitdale
  • December 21
    'Gone Girl' at the Playhouse
    1 p.m., 4 p.m., 7 p.m. BC Playhouse, 70 S. Van Buren St.
  • December 21
    Railroad museum features model Christmas trains´╗┐
    1 to 7 p.m. BC RR Museum, 18 W. Three Story Hill Road, Fruitdale
  • December 23
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • December 24
    Nashville government offices CLOSED
  • December 24
    Christmas Eve Communion service at Becks Grove church
    7 p.m. Becks Grove Christian Church, 8009 Becks Grove Road
  • December 24
    Candlelight service at Helmsburg church Christmas Eve
    7 p.m. Brown County Community Church, 2370 Main St., Helmsburg
  • December 24
    Candlelight service set for Christmas Eve
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East
  • December 24
    Cordry church hosts candlelight service Christmas Eve
    7 p.m. Church of the Lakes, 8844 Nineveh Road
  • December 25
    Government Offices CLOSED
  • December 26
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • December 26
    Brown County Government Offices CLOSED
  • December 27
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • December 27
    Live band at dance barn
    7:30 p.m. Mike's Dance Barn, 2277 State Road 46 West
  • December 29
    Jackson Township Board
    7 p.m. Jackson Township Board, Trustee's Office, 5765 Carmel Ridge Road