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Board of Commissioners' lease determination Re: Courthouse

NOTICE OF PRELIMINARY DETERMINATION

OF THE BOARD OF COMMISSIONERS OF BROWN COUNTY, INDIANA

TO ENTER INTO A LEASE WITH A BUILDING CORPORATION

Owners of real property in the Brown County, Indiana (the "County") hereby are given notice that the Board of Commissioners of the County (the "Board") preliminarily has determined, at its meeting held April 3, 2013, that a need exists for the construction, installation and equipping of an expansion and renovation of the Brown County Courthouse, located at 20 East Main Street, Nashville, Indiana the "Project"). The Board further preliminarily determined at such meeting, to the extent permitted by law, to take all of the necessary steps to finance all or any portion of the costs of the Project by entering into a lease between a building corporation, as lessor (the "Building Corporation"), and the County, as lessee, relating to the Project. The Building Corporation will finance the costs of the Project, together with the financing costs associated therewith, through the issuance of bonds by Building Corporation, secured by and payable from the lease payments under the proposed lease (the "Bonds").

The County's lease payments under the proposed lease will be payable from ad valorem property taxes on all taxable property within the geographical boundaries of the County. The proposed lease with respect to the Project will have a term no longer than fifteen (IS) years, commencing on the date of issuance of the Bonds. The estimated interest rates that will be paid in connection with the Bonds are between 1% and 5% per annum, and the total estimated interest cost associated therewith is $ 1,992,263. The maximum annual lease rental to be paid by the County under the proposed lease is $780,000, and the maximum lease rental over the term of the lease is $8,250,000. The County's current debt service levy is $592,000, and its current debt service rate is $.0455 per $100 of assessed valuation. Over the term of the proposed lease, the estimated increase to the debt service fund tax levy for the County is estimated to be $780,000 (occurring in 2018 pay 2019), and the estimated increase to the debt service fund tax rate for the County after the issuance of the Bonds will be $.06 per $100 of assessed value (occurring in 2018 pay 2019).

Any owners of real property within the County or registered voters residing within the County who want to initiate a petition and remonstrance process against the proposed lease rental payments must file a petition requesting the application of a petition and remonstrance process with the Brown County Board of Elections, in the Office of the Brown County Circuit Court Clerk, Brown County Courthouse, 1st Floor, 20 East Main Street, Nashville, Indiana, not later than thirty days after the date of the publication of this notice in the manner provided by Indiana Code §6-1.1-20-3.1.

Dated this 10th day of April, 2013.

BOARD OF COMMISSIONERS OF BROWN COUNTY, INDIANA

13-98 31631600  4/10/2013

Obituaries
See Full List »

James E. (Jim) Robinson, 76, Bedford
  Former chief deputy of police for the town of Nashville

Josephine Lee Cueto, 62, Morgantown
  Daughter of Priscilla Burgmeier of Nashville

Mary 'Jane' Kollman, 92, Nashville
  Mother of Janet (Tom) Gaskins of Nashville

  • November 25
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • November 25
    Open 12-step meetings in New Bellsville area
    6 to 7 p.m. Harmony Baptist Church, 3999 Mt. Liberty Road, New Bellesville
  • November 26
    Go Club meeting Wednesday at coffee/tea shop
    3 p.m. Brown County Public Library, 205 N. Locust Lane
  • November 26
    BC Sheriff's Merit Board
    4 p.m. Sheriff's Office, Law Enforcement Center, 55 State Road 46 East
  • November 28
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • November 29
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • November 29
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • December 2
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • December 3
    Woodworkers Club
    7 p.m. Library, 205 N. Locust Lane
  • December 3
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • December 4
    Go Club at the library Thursdays
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • December 5
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • December 5
    Children's fund annual auction
    6 p.m. Out of the Ordinary, 61 S. Van Buren St.
  • December 6
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • December 6
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • December 10
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • December 12
    Widowed group plans Christmas party
    noon Salt Creek Golf Retreat, 2359 State Road 46 East
  • December 12
    BCSP Christmas bird count slated
    8 a.m. BCSP Nature Center, 1810 State Road 46 East
  • December 13
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road