Lake Central Board OKs sale of bonds

2013-11-10T20:30:00Z 2013-11-11T13:37:09Z Lake Central Board OKs sale of bondsLU ANN FRANKLIN Times Correspondent
November 10, 2013 8:30 pm  • 

ST. JOHN | The Lake Central School Board last week approved the issuance of $1.93 million in 2013 general obligation bonds to cover the cost of various upgrades at district schools.

Director of Business Services Rob James said the money will fund improvements to a districtwide radio system and a swipe card access system at the district’s six elementary and three middle schools.

Other money would replace a chiller at Grimmer Middle School that barely functioned during summer school, James said. A chiller is used to cool and dehumidify air in larger facilities.

Other projects that need funding include construction of a restroom/concession building at Clark Middle School in St. John and asphalt repairs throughout the school district.

The bonds would be repaid over four years at an interest rate not to exceed 5 percent.

“The exact (interest) rates will be determined by bidding,” James said. “With the markets the way they are now, we expect interest rates will be much lower.”

As required by state law, another public hearing on the matter is set for the board’s next meeting Nov. 18. The 7:30 p.m. meeting will be in the LGI room at the Lake Central High School Freshman Center.

In other business, the School Board awarded a bid to lease 153 acres of vacant land in St. John to Gary Dunlap, of Gary Dunlap Farms in Valparaiso. The vacant land on Blaine Street and 101st Street has 145 tillable acres.

Dunlap's winning bid to farm the land was $287 per tillable acre. The $41,615 per year lease is due in two payments on May 1 and Nov. 1, 2014, James said.

Revenue from the lease will be put into the school district’s general fund.

Copyright 2014 All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

About Dyer

Town of Dyer

One Town Square Dyer, IN 46311
219.865.4233 (Fax)

Police Department

2150 Hart Street Dyer, IN 46311
Non-emergency 219.865.1163

Fire Department

2150 Hart Street Dyer, IN 46311
Non-emergency 219.865.4215

Parks and Recreation

One Town Square Dyer, IN 46311
219.865.4233 (Fax)

Lake Central School Corporation

Kay Trapp Administration Center
8260 Wicker Avenue
St. John, Indiana 46373
Phone: 219.365.8507

Featured Businesses