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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

  • September 23
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive at the fairgrounds
  • September 23
    Ornithologist's field bag at BCSP Nature Center
    2 p.m. Brown County State Park, 1810 State Road 46 East
  • September 23
    BC Area Plan Commission
    6 p.m. County Office Building, 201 N. Locust Lane
  • September 23
    New 12-step meetings open in Van Buren area
    7 to 8 p.m. Harmony Baptist Church, 3999 Mt. Liberty Road, New Bellesville
  • September 24
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • September 24
    CSCD Board of Directors
    7 p.m. CSLOA Clubhouse, 8751 Nineveh Road
  • September 24
    BC Board of Zoning Appeals
    6 p.m. County Office Building, 201 N. Locust Lane
  • September 24
    BC Parks & Rec. Board
    5:15 p.m. BC Parks & Rec. Office, 1001 Deer Run Lane
  • September 24
    Taste of fall at BCSP Nature Center
    2 p.m. Brown County State Park, 1810 State Road 46 East
  • September 24
    Bluegrass festival at music park
    Bill Monroe Music Park, 5163 State Road 135 North, Bean Blossom
  • September 25
    Go Club at the library
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • September 25
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone
  • September 25
    Bluegrass festival at music park
    Bill Monroe Music Park, 5163 State Road 135 North, Bean Blossom
  • September 25
    Brown County/ Purdue Extension Board
    7 p.m. 802 Memorial Drive at the fairgrounds
  • September 25
    Thursday at BCSP
    10 a.m., 2 p.m. Brown County State Park, 1810 State Road 46 East
  • September 26
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • September 26
    Bean Blossom farmers market Friday
    4 to 7 p.m. St. David's Episcopal Church, State roads 135 North and 45, Bean Blossom
  • September 26
    Comedy country music revue at the Playhouse
    7:30 p.m. Brown County Playhouse, 70 S. Van Buren
  • September 26
    Bluegrass festival at music park
    Bill Monroe Music Park, 5163 State Road 135 North, Bean Blossom
  • September 26
    Friday at BCSP
    2 p.m., 7 p.m. Brown County State Park, 1810 State Road 46 East
  • September 27
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • September 27
    Bluegrass festival at music park
    Bill Monroe Music Park, 5163 State Road 135 North, Bean Blossom
  • September 27
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • September 27
    Fall family farm day at theraputic horse farm
    10 a.m. to 3 p.m. Hope for Hearts Farm Inc, 1005 W. State Road 45
  • September 27
    Women’s Retreat Day
    8:30 a.m. to 3 p.m. Salvation Army, 168 S. Jefferson St.
  • September 27
    Saturday at BCSP Nature Center
    9 a.m., 10 a.m., 2 p.m. Brown County State Park, 1810 State Road 46 East
  • September 27
    Parks and recreation plans ladies tea
    10 a.m. Sweetea's Tea Shop, 225 S. Van Buren St. in Coachlight Square
  • September 27
    Betty Begonia sale slated for September
    9 a.m. to 4 p.m. Artist's Retreat Cottage, 1641 Oak Grove Road
  • September 28
    Pinecone craft at BCSP Nature Center
    2 p.m. Brown County State Park, 1810 State Road 46 East
  • September 28
    Therapy dogs to listen to readers
    2 to 3:30 p.m. Brown County Public Library, 205 N. Locust Lane
  • September 29
    Monday at BCSP
    10 a.m., 8 p.m. Brown County State Park, 1810 State Road 46 East
  • September 30
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • September 30
    Nashville Development Review Commission
    6 p.m. Town Hall, 200 Commercial St.
  • September 30
    Fall flowers at BCSP Nature Center
    2 p.m. Brown County State Park, 1810 State Road 46 East
  • October 1
    Local Emergency Planning Committee
    9 a.m. Ambulance Base, 53 State Road 46 East
  • October 1
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • October 1
    Brown County Commissioners
    6 p.m. County Office Building, 201 N. Locust Lane
  • October 1
    BC SWCD
    6:30 p.m. SWCD Office, 802 Memorial Drive at the fairgrounds
  • October 2
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone5181 State Road 46 East, Gnaw Bone
  • October 2
    Go Club at the library Thursdays
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • October 2
    WRAPS meetings
    7 to 9 p.m. Brown County Public Library, 205 N. Locust Lane
  • October 3
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • October 4
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive at the fairgrounds
  • October 4
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • October 4
    Chili supper, music and mystery auction at Hickory Ridge
    5 p.m. Hickory Ridge Center, 2314 Hickory Ridge Lane
  • October 5
    Herb barn hosts antique market
    10 a.m. to 4 p.m. Flower & Herb Barn, 5171 Bean Blossom Road, Nineveh
  • October 5
    Elkinsville community reunion near Browning Mountain
    11 a.m. Bill Miller's farm, Elkinsville
  • October 7
    Magic club
    5 p.m., 6:30 p.m. Brown County Public Library, 205 N. Locust Lane
  • October 7
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • October 8
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • October 9
    Gospel jam session
    6:30 p.m. Country Gospel Music Church, 5181 State Road 46 East, Gnaw Bone
  • October 9
    Go Club at the library Thursdays
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • October 10
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • October 11
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • October 11
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road
  • October 11
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • October 11
    Second Saturday Village Art Walk
    5 to 8 p.m. Downtown Nashville
  • October 14
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • October 15
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • October 25
    BCSP Halloween activities
    5 to 6 p.m., 8 to 10 p.m. Brown County State Park, 1810 State Road 46 East
  • November 8
    Second Saturday Village Art Walk
    5 to 8 p.m. Downtown Nashville
  • November 8
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road