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Public Notices
 
INTENT TO SELL BONDS by BCHS and Nashville School Bldg. Corp.

NOTICE OF INTENT TO SELL BONDS

$7,000,000

FIRST MORTGAGE BONDS, SERIES 2012

BROWN COUNTY HIGH SCHOOL AND NASHVILLE SCHOOL BUILDING CORPORATION

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 High School and Nashville School Building Corporation (the “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 the person’s name, address, and telephone number to the Corporation c/o Dr. Dennis Goldberg,Brown County Schools (the “School Corporation”), 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) July 2, 2012.  Interested persons may also furnish an e-mail address.  The Corporation 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 July 11, 2012.

At the time designated for the sale, the 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:

First Mortgage Bonds, Series 2012 (the “Bonds”) of the Corporation, an Indiana corporation, in the principal amount of $7,000,000; 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 January 15, 2013, and semiannually thereafter; These Bonds will be initially issued in a Book Entry System (as defined in the Trust Indenture hereinafter described) 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 trustee on the fifteenth day immediately preceding such interest payment date; the Bonds are anticipated to be delivered on July 31, 2012; Maturing or subject to mandatory redemption on January 15 and July 15 on the dates and amounts as follows:

     Date         Amount

     7/15/2016  $   40,000

     1/15/2017       40,000

     7/15/2017     790,000

     1/15/2018     795,000

     7/15/2018     800,000

     1/15/2019     805,000

     7/15/2019     810,000

     1/15/2020     815,000

     7/15/2020  1,050,000

     1/15/2021  1,055,000        

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.The Corporation reserves the right to adjust the maturity schedule following the sale in order to accomplish the Corporation's financial objectives by reallocating debt service based upon the rates bid by the successful bidder.

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 Corporation, to be determined by computing the total interest on all of the Bonds to their maturities based upon the schedule provided by the 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.

Each bid must be enclosed in a sealed envelope addressed to the Corporation and marked on the outside “Bid for First Mortgage Bonds, Series 2012”.  A good faith deposit (“Deposit”) in the form of cash or certified or cashier’s check in the amount of $70,000 payable to the order of the 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 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 Corporation as liquidated damages.

The successful bidder shall make payment to the bank selected by the Corporation, as Trustee (the “Trustee”) for the Bonds and accept delivery thereof from the Trustee 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 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 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 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 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 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 Corporation.

The Corporation was organized for the purpose of constructing school buildings and leasing such buildings to Brown County Schools.  All action has been taken and the Bonds are issued in compliance with the provisions of I.C. 20-47-3.  The Bonds will be secured by a trust indenture to the Trustee and will be subject to the terms and provisions of said indenture.  The Corporation will certify as to facts to support the conclusion that the Bonds do not constitute private activity bonds as defined in Section 141 of the Internal Revenue Code.

The property to be covered by the indenture has been leased for a period of 10 years to Brown County Schools.  The lease provides for payments during renovation, plus the payment of all taxes and assessments, which annual rental is payable semiannually on June 30 and December 31 in each year, commencing during renovation on June 30, 2013, with full annual lease rentals commencing with the completion of the project or June 30, 2017, whichever is later.

After the sale of all Bonds issued by the Corporation to pay for the cost of the improvements to the buildings, including the acquisition of the sites thereof and other expenses incidental thereto, the annual rental shall be reduced to an amount equal to the multiple of $1,000 next highest to the sum of principal and interest due on such Bonds in each twelve month period ending on January 15 plus $3,000, payable in equal semiannual installments.  All bidders shall be deemed to be advised as to the provisions of the above-mentioned trust indenture and lease and the provisions of the aforesaid I.C. 20-47-3.

The Bonds are being issued for the purpose to pay the cost of the certain capital improvements to the facilities of Brown County Schools.  The Bonds constitute an indebtedness only of the Corporation, payable in accordance with the terms of the above-mentioned indenture.  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 lease rentals due from the School Corporation are 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 lease rentals 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 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 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 Corporation 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 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 13th day of June, 2012.

Carol Bowden, Secretary, Board of Directors

Brown County High School and Nashville School Building Corporation

6/13, 6/20 & 6/27/2012 12-165  31564698

Obituaries
See Full List »

Shirley K. Salmons, 92, Nashville
  

Lynda Lolette Sereno, 67, Nashville
  Wife of Gerhard Weber of Nashville

Dwayne E. Martin, 55, Nineveh
  Husband of Cathy J. (Wilson) Martin of Nineveh

  • April 1
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • April 1
    Brown County Schools Board of Trustees retreat
    10:30 a.m. to 4 p.m. Parkview Church of the Nazarene, 1750 State Road 46 East
  • April 1
    BC Emergency Management Advisory Council
    8 a.m. Ambulance Base, 53 State Road 46 East
  • April 1
    Brown County SWCD
    6:30 p.m. SWCD Office, 802 Memorial Drive at the fairgrounds
  • April 1
    BC Commissioners
    6 p.m. County Office Building, 201 N. Locust Lane
  • April 2
    Rotary Club
    7:15 a.m. Artist Colony Inn, 105 S. Van Buren St.
  • April 2
    Go Club meeting Thursday
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • April 2
    'The Second Best Exotic Marigold Hotel' at the Playhouse
    7 p.m. BC Playhouse, 70 S. Van Buren St.
  • April 2
    Brown County Schools Board of Trustees
    6:30 p.m. BC Intermediate School, 260 School House Lane
  • April 2
    WRAPS
    7 to 9 p.m. Library, 205 N. Locust Lane
  • April 2
    Gospel jam & sing at Gnaw Bone church
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East
  • April 2
    BC Property Tax Assessment Board Of Appeals
    9 a.m. County Office Building, 201 N. Locust Lane
  • April 2
    CSCD Ecology Commission
    7 p.m. CSLOA Clubhouse, 8751 Nineveh Road
  • April 3
    Nashville/Brown County Government Offices CLOSED
  • April 3
    Bingo
    5 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • April 3
    'The Second Best Exotic Marigold Hotel' at the Playhouse
    4 p.m., 7 p.m. BC Playhouse, 70 S. Van Buren St.
  • April 3
    Live music at winery
    7 to 10 p.m. Chateau Thomas Winery, Coachlight Square, 225 S. Van Buren St.
  • April 3
    Live music at sports bar
    8 p.m. Salt Creek Golf Retreat, 2359 State Road 46 East
  • April 4
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • April 4
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Brown County State Park, State Road 46 East
  • April 4
    Carnival and egg hunt at Hamblen Township Fire Department
    9:30 to 11:30 a.m. Hamblen Township Volunteer Fire Department, 5612 Gatesville Road
  • April 4
    Egg hunt at grocery store
    11 a.m. Brown County IGA, 30 Hawthorne Dr.
  • April 4
    Egg hunt at Deer Run Park
    1 p.m. Deer Run Park
  • April 4
    Egg hunt at assisted living facility
    2 p.m. BC Health & Living Community, 55 E. Willow St.
  • April 4
    Karaoke at sports bar
    8 p.m. Salt Creek Golf Retreat, 2359 State Road 46 East
  • April 4
    Saturday at Brown County State Park
    10 a.m., 2 p.m. Brown County State Park, State Road 46 East
  • April 4
    'Mary Poppins' sing-along at the Playhouse
    7 p.m. BC Playhouse, 70 S. Van Buren St.
  • April 4
    Live music at winery
    7 to 10 p.m. Chateau Thomas Winery, Coachlight Square, 225 S. Van Buren St.
  • April 5
    'The Second Best Exotic Marigold Hotel' at the Playhouse
    4 p.m., 7 p.m. BC Playhouse, 70 S. Van Buren St.
  • April 5
    Church events slated for Easter Sunday
    .m. Brown County Community Church, 2370 Main St., Helmsburg
  • April 5
    Sunrise service at BCSP
    7 a.m. Brown County State Park, State Road 46 East
  • April 6
    Gnaw Bone Sewage District
    5:30 p.m. Library, 205 N. Locust Lane
  • April 6
    Metaphysical exploration group to host open meeting
    6 to 8 p.m. Library, 205 N. Locust Lane
  • April 7
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • April 7
    Open 12-step meeting in New Bellsville area
    8 p.m. Harmony Baptist Church, 3999 Mt. Liberty Road, New Bellesville
  • April 7
    Bean Blossom Sewer Board
    7:30 p.m. County Office Building, 201 N. Locust Lane
  • April 7
    CSCD Building Commission
    7 p.m. CSLOA Clubhouse, 8751 Nineveh Road
  • April 7
    Nashville Redevelopment Commission
    4:30 p.m. Town Hall, 200 Commercial St.
  • April 8
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • April 8
    CRC Steering Committee
    6:30 p.m. CRC, 246 E. Main St.
  • April 9
    Go Club at the library Thursdays
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • April 9
    Local Coordinating Council
    8 a.m. Comm. Corrections Office, Suite B, lower level of Veterans Hall, 902 Deer Run Lane,
  • April 9
    Gospel jam & sing at Gnaw Bone church
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East
  • April 9
    BC photography club
    7 to 9 p.m. Library, 205 N. Locust Lane
  • April 9
    BC Convention & Visitors Commission
    8:30 a.m. County Office Building, 201 N. Locust Lane
  • April 10
    Bingo
    5 p.m. Fruitdale Fire Station, 5200 State Road 135 North.
  • April 10
    Live music at sports bar
    8 p.m. Salt Creek Golf Retreat, 2359 State Road 46 East
  • April 10
    Live band at winery
    7 to 10 p.m. Chateau Thomas Winery, Coachlight Square, 225 S. Van Buren St.
  • April 10
    'Lady Be Good', live jazz at the Playhouse
    7:30 p.m. BC Playhouse, 70 S. Van Buren St.
  • April 11
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • April 11
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road
  • April 11
    Live bluegrass at the Playhouse
    7:30 p.m. BC Playhouse, 70 S. Van Buren St.
  • April 11
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Brown County State Park, State Road 46 East
  • April 11
    Live music at winery
    7 to 10 p.m. Chateau Thomas Winery, Coachlight Square, 225 S. Van Buren St.
  • April 11
    Open house conducted at New Song
    9 to 11 a.m. New Song Mission, 7202 Keith Donaldson Road, Freetown
  • April 12
    Mother’s Cupboard Soup Bowl benefit planned
    5 to 7 p.m. The Seasons Lodge, 560 State Road 46 East
  • April 12
    Dave Miller at Abe Martin Lodge
    Noon to 2 p.m. Brown County State Park, State Road 46 East
  • April 14
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • April 14
    Peaceful Valley Heritage meeting
    6:30 p.m. Library, 205 N. Locust Lane
  • April 14
    Open 12-step meeting in New Bellsville area
    8 p.m. Harmony Baptist Church, 3999 Mt. Liberty Road, New Bellesville
  • April 14
    Ribbon cutting, open house set at inn
    5:30 p.m. Olde Magnolia House Inn, 213 S. Jefferson
  • April 16
    WRAPS
    7 to 9 p.m. Library, 205 N. Locust Lane
  • April 16
    Local history and heritage presented at the library
    6:30 p.m. Library, 205 N. Locust Lane
  • April 17
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • April 17
    Chamber hosts local job fair
    2 to 5 p.m. Creekside Retreat Conference Center, 2450 State Road 46 East
  • April 18
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • April 18
    Rock & mineral club
    6 p.m. Extension Office, 802 Memorial Drive at the fairgrounds
  • April 24
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • April 24
    Wildflower foray slated at historic site
    TC Steele State Historic Site, 4220 T.C. Steele Road, Belmont
  • April 25
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • April 25
    Wildflower foray slated at historic site
    TC Steele State Historic Site, 4220 T.C. Steele Road, Belmont
  • April 26
    County history center dedication slated
    2 p.m. Brown County History Center, 90 E. Gould
  • April 26
    Wildflower foray slated at historic site
    TC Steele State Historic Site, 4220 T.C. Steele Road, Belmont
  • May 16
    Historic site hosts outdoor art contest
    7 a.m. to 4 p.m. TC Steele State Historic Site, 4220 T.C. Steele Road, Belmont