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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

  • January 27
    Widowed group euchre party
    1 p.m. Sycamore Valley Community Center, 746 Memorial Drive
  • January 27
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • January 27
    Open 12-step meetings in New Bellsville area
    6 to 7 p.m. Harmony Baptist Church, 3999 Mt. Liberty Road, New Bellesville
  • January 27
    BC Election Board
    2 p.m. County Office Building, 201 N. Locust Lane
  • January 27
    BC Area Plan Commission
    6 p.m. County Office Building, 201 N. Locust Lane
  • January 28
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • January 28
    BC Sheriff's Merit Board
    4 p.m. Law Enforcement Center, 55 State Road 46 East
  • January 28
    BC Board of Zoning Appeals
    6 p.m. County Office Building, 201 N. Locust Lane
  • January 29
    Go Club at the library Thursdays
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • January 30
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • January 31
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • January 31
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • February 2
    Gnaw Bone Sewage District
    5:30 p.m. Library, 205 N. Locust Lane
  • February 3
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • February 3
    Bean Blossom Regional Sewer Board
    7:30 p.m. County Office Building, 201 N. Locust Lane
  • February 4
    Lake Lemon Conservancy District annual meeting
    6 p.m. Benton Township Senior Center, 7616 E. State Road 45, Unionville
  • February 4
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • February 4
    Van Buren Township Advisory Board
    7 p.m. Van Buren trustee's office, 4748 Christianburg Road
  • February 5
    Jackson Township Board
    6 p.m. Jackson Fire Station, 4831 Helmsburg Road
  • February 6
    Bingo
    5 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • February 9
    Washington Township Trustees
    7 p.m. Parkview Church of the Nazarene, 1750 State Road 46 East
  • February 12
    BC Convention & Visitors Commission
    8:30 a.m. County Office Building, 201 N. Locust Lane
  • February 13
    Bingo
    5 p.m. Fruitdale Fire Station, 5200 State Road 135 North.
  • February 14
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road
  • February 17
    Hamblen Trustee Board annual review
    6:30 p.m. 2314 Hickory Ridge Lane off Hornettown Road