AKRON — The Tippecanoe Valley School Board OK’d financing a heating, ventilation and air conditioning project and technology and roofing improvements for Tippecanoe Valley School Corp. schools.
At a special meeting on Thursday in the TVSC administration building, the board had its second preliminary determination hearing for bonds for the project and approved a resolution in favor of using the bonds, which should be issued in fall. Its first hearing was on May 20.
“Our community has expectations that we have nice facilities here, and we’ve determined that we need to perform some HVAC system upgrades (as well as) technology equipment and some roofing (improvements) across our school corporation’s facilities,” said TVSC Superintendent Blaine Conley.
Baker Tilly Manager Megan Gibson gave a short presentation on the bonds before the hearing.
She said bonds for the project should be paid off in one to two years based on current estimates, allowing for a 5% interest rate.
Gibson said property owners in Valley’s district could expect to see the following annual tax “impacts” due to the bonds: a person with a home valued at $142,500, the median home value for the TVSC district, would see an annual one of $16.58; a person with 100 acres of farmland would see a $61.56 one; and someone with $100,000 of commercial/rental property would see one of $27.
The board also hired Assistant Technology Director Brittany Hamm, who last worked for Whitko Community Schools.
Its next public work session is set for 6 p.m. June 13 at Tippecanoe Valley High School, and its next regular meeting is 6 p.m. June 17 at Mentone Elementary School.