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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 »

Melody L. Estes, 56, North Vernon
  Sister of Shawna (Brian) Lowe of Brown County

Geneva Holder, 88, Sebring, Florida
  Brown County native

Larry D. Underwood, 53, Columbus
  Brother of Rob (Laura) Underwood of Nashville

  • December 23
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • December 23
    Open 12-step meetings in New Bellsville area
    6 to 7 p.m. Harmony Baptist Church, 3999 Mt. Liberty Road, New Bellesville
  • 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 26
    'Interstellar' at the Playhouse
    4 p.m., 7 p.m. BC Playhouse, 70 S. Van Buren St.
  • December 27
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • December 27
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • December 27
    'Interstellar' at the Playhouse
    4 p.m., 7 p.m. BC Playhouse, 70 S. Van Buren St.
  • December 27
    Live band at dance barn
    7:30 p.m. Mike's Dance Barn, 2277 State Road 46 West
  • December 28
    'Interstellar' at the Playhouse
    4 p.m., 7 p.m. BC Playhouse, 70 S. Van Buren St.
  • December 29
    Jackson Township Board
    7 p.m. Jackson Township Board, Trustee's Office, 5765 Carmel Ridge Road
  • December 30
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • December 31
    Live band at the Playhouse
    8 p.m. BC Playhouse, 70 S. Van Buren St.
  • January 2
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • January 7
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • January 8
    Go Club meeting Thursdays
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • January 10
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road
  • January 14
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.