The Vincennes Community School is considering a 2027 bond issue to continue its facility improvements in buildings and equipment across the Corporation. The proposal would allow for needed repairs at Lincoln High School, Clark Middle School, and other facilities. As part of the process, the Board heard from the public during a hearing as part of yesterday’s Board session.
The Corporation is seeking a bond issue of up t0 25 million dollars to do that work. That is the maximum threshold, and not necessarily the amount the Corporation will ask for in bonds. School Corporation officials feel the final number will be significantly under that amount.
Corporation officials also do not expect to come near the advertised maximum debt service tax rate as advertised. At current, the property tax rate is in line with the statewide average for school corporation property taxes.
During the meeting, it was stated the bond issue is to improve flexibility for future projects or repairs through 2037. That is due to present, and possibly future, funding losses from recently-approved statewide property tax cuts.
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