The Independent-News, Volume 117, Number 16, Walkerton, St. Joseph County, 12 September 1991 — Page 9

filed. The president stated that the purpose of the meeting was to conduct a hearing to the proposed construction of a new middle school building in accordance with I.C. 20-5-52-2, hereinafter referred to as “school building project”. The president further stated that I.C. 21-5-52-1 through 20-5-52-3 required the Board of School Trustees of John Glenn School Corporation of St. Joseph, LaPorte and Marshall Counties, Indiana, to hold a public hearing since the proposed school building project would cost more than $1,000,000.00 and to be financed under I.C. 21-5-12-7. The president further stated it was necessary at this hearing to: (1) Explain the potential value of the proposed project to the school corporation and to the community; and (2) invite interested parties to present testimony and answer questions; (3) hear objections and support for the proposed construction; (4) adopt a resolution specifying; (a) the educational purpose the proposed school building project will serve; (b) the estimated cost of construction including the cost of the land; and (c) any other pertinent information, including the estimated impact on the tax rate and the proposed sources of funding. A discussion ensured with regard to the general educational purposes the school facilities would

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serve. The Board of School Trustees of John Glenn School Corporation of St. Joseph, LaPorte, and Marshall Counties, Indiana reviewed the proposed site of the school building project as well as the estimated cost of construction, including the cost of land. The President further discussed the estimated completion date of the project, which she anticipated to be approximately 18 months from the date construction is to commence, unavoidable delay excepted. The President further stated that the proposed source of funding for the school building project would come from school binds, and a school building corporation. The President further stated that it is anticipated that there would be an increase in the property tax rate as a result of the school building project as to real estate taxes for the year 1993 payable in 1994 of 61 cents per SIOO.OO of assessed valuation. The President then asked any persons present to ask questions concerning the proposed school building project and further, that the Board of School Trustees of John Glenn School Corporation of St. Joseph, LaPorte and Marshall Counties, Indiana will hear and discuss objections and support for the proposed school building project. The meeting was opened for questions and discussion and for hearing of all persons interested.

After the discussion and questions, the Board of School Trustees of John Glenn School Corporation, of St. Joseph, LaPorte and Marshall Counties, Indiana upon motion duly made, seconded, passed by a 5-1 vote adoption of the following resolution pursuant to I.C. 20-5-52-3. WHEREAS, a notice of hearing was duly published calling for a public hearing to be held on August 22, 1991, for all persons interested before the Board of School Trustees of John Glenn School Corporation of St. Joseph, LaPorte and Marshall Counties, Indiana, with regard to a proposal to construct a school building project using school funds, and a school building corporation, and WHEREAS, such public hearing was held on the 22nd day of August, 1991, in the Gymnasium at Harold C. Urey Middle School, 406 Adams Street, Walkerton, Indiana, at 7.00 o’clock P.M., E.S.T., pursuant to said notices, and WHEREAS, the Board of School Trustees of John Glenn School Corporation of St. Joseph, LaPorte and Marshall Counties, Indiana did invite all interested persons attending said hearing to present testimony and ask questions concerning the proposed school building project and said Board of School Trustees of John Glenn School Corporation of St. Joseph, LaPorte and Marshall Counties,

SEPTEMBER 12, 1991 - THE INDEPENDENT NEWS -

Indiana heard and discussed objections and support for said school project and construction. NOW THEREFORE. BE IT RE SOLVED, pursuant to I.C. 20-5-52-3, that John Glenn School Corporation of St. Joseph, LaPorte and Marshall Counties, Indiana should proceed with the new middle school building project to house students in grades 6,7 and 8 and that it is anticipated that the use of all major areas in the building will be for classroom purposes for the Corporation. Further, that the estimated cost of construction and financing, including the cost of the land for the total project, would be approximately $11,500,000.00 and that the estimated completion date of the building project would be August 28, 1993, unavoidable delay excepted. Further, that the proposed source of funds for the project would be from school funds, and a school building corporation, and further, that the estimated impact of the project on John Glenn School Corporation of St. Joseph, LaPorte and Marshall Counties, Indiana tax rate would be 61 cents per SIOO.OO assessed valuation for the 1993 real estate taxes due and payable in 1994. The President further stated it would be necessary to pass a resolution to reimburse the School Corporation for costs and expenses relative to the Project. On motion duly made, seconded,

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and passed by a 5-1 vote, the following resolution was adopted. WHAEREAS, John Glenn School Corporation of St. Joseph. LaPorte and Marshall Counties, Indiana, (the “School”) intends to construct a new middle school building which will cost approximately $11.500.000 (the “Project”); and WHEREAS, the School intends to be reimbursed for the costs of constructing the Project by incurring or by holding corportion incur on its behalf tax-exempt or taxable debt; and WHEREAS, the School intends to pay debt service on the taxexempt or taxable debt incurred to reimburse the costs of constructing the Project from its general tax revenues deposited in its Debt Service Fund; NOW THEREFORE. BE IT RESOLVED that the School declares it official intent to construct the Project; to pay the initial costs of constructing the Project from the sources identified above; to reimburse the costs of constructing the Project by incurring or by having a holding corporation incur on its behalf tax-emempt or taxable debt; and to pay debt service on the tax-exempt or taxable debt incurred to reimburse the costs of constructing the Project from the sources identified above. There being no further business to come before the meeting, the meeting was thereupon adjourned. Jean Ann Beam, President

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