Aug 24, 2021. County OKs borrowing for roads, other projects by Suzannah Couch
After multiple meetings and comments, the Brown County Council approved an ordinance last week allowing the county to take out a $3 million bond to pay for various projects and road work over the next three years.
The anticipated impact on tax rates for residents is expected to be minimal to none, but the exact impact will not be known until the bond is finalized next month.
The borrowing was approved on a 5-2 vote with council members Darren Byrd and Scott Rudd voting no.
Aug 20, 2021. FB Post – Kevin Fleming
- The authorizing ordinance for the $3 mil loan passed by the county council cites that the loan is made according to IN Code 36-2-6-18. I’ve highlighted portions of the statute which seems to apply to the loan.
Aug 15, 2021. County loan priorities, need under discussion by Sara Clifford – A decision could come sometime this week on whether or not the Brown County Council will agree to take out a $3 million loan…
Complaint submitted by Sherrie Mitchell to the Public Access Counselor – Violation of Open Meeting Laws: PAC Complaint – Bond Resolution 2021_08_03
8/9/2021 PROPOSED Ordinance Authorizing Issuance of Notes.pdf (Council website).
July 27, 2021. Council, residents debate need, planning for another loan By Suzannah Couch
“How is that a capital improvement?” resident Tim Clark asked about the contracts. Typically, “capital” items are tangible things, not services.
“The capital improvement loan is simply unfunded items we cannot pay for any other way. They just call it a capital improvement loan in terms of how it’s established through getting the bonding,” Biddle said.
July 19, 2021, County Council Meeting
- Council Agenda 2021_07_19
- DRAFT ORDINANCE 2021 Brown County Notes – Note and Additional Appropriation Ordinance(20149310.2)
- Proposed Initial Projects (Council website) 3M Bond Ordinance CapEx, Rev Jul-19-2021
Legal Notices for Week of July 6, 2021.
NOTICE OF PUBLIC HEARING CONCERNING APPROPRIATION
OF THE PROCEEDS OF THE BROWN COUNTY, INDIANA
GENERAL OBLIGATION NOTES, SERIES 2021
The residents and taxpayers of Brown County, Indiana (the “County”), are hereby notified that the County Council will hold a public hearing on Monday, July 19, 2021 at 6:30 p.m., local time, in the Salmon Room on the second floor of the Brown County Office Building, located at 201 Locust Lane, Nashville, Indiana, on the matter of appropriating the proceeds of the Brown County, Indiana General Obligation Notes, Series 2021 (the “Notes”), in an amount not to exceed Three Million Dollars ($3,000,000), together with all interest earnings thereon. The proceeds of the Notes will be issued for the purpose of paying the costs of various capital projects for the County, and related incidental expenses to be incurred in connection therewith, and the costs of issuing the Notes.
Said appropriation is in addition to any appropriations provided for in the existing budget and tax levy. Funds to cover said appropriation are to be provided from the proceeds of the Notes. At said public hearing, all persons shall have the right to appear and be heard on the necessity of said appropriation.
Dated: July 7, 2021
June 29, 2021. County council approves first step in loan process By Suzannah Couch – 6/29/21
- The Brown County Council has approved the first step in the process to borrow up to $3 million for road work, county-owned buildings and other capital projects.
- County commissioner Diana Biddle presented the resolution to the council on June 21.
- An ordinance approving borrowing the money will be presented to the council next month. The council will meet at 6:30 p.m. Monday, July 19 and public input will be accepted about the loan at that time.
- “We’re not approving $3 million. We’re just saying get it started,” said county council President Dave Redding.
- Council member Scott Rudd expressed concern about approving the resolution allowing the commissioners to further finalize the details of the loan since it was not listed on the agenda shared with the public ahead of time. … “It also went from $2 million to $3 million,” Rudd said. … “I’m leaning towards just pushing this back. I am reacting to the extra million as we speak. … It’s a lot of changes without a lot of notice.”
County Council Agenda June 21 2021 Bond Resolution not on agenda
- NOTICE TO TAXPAYERS REGARDING DETERMINATION TO ISSUE NOTES OF BROWN COUNTY, INDIANA The taxpayers of Brown County, Indiana (the “County”), are hereby given notice that the Brown County Council, at its meeting held June 21, 2021, determined to issue notes of the County in an original aggregate principal amount not to exceed $3,000,000 (the “Notes”). The proceeds of the Notes will be used to finance the costs of capital projects in the County, and to pay related and incidental expenses to be incurred in connection therewith and on account of the issuance of the Notes.
- The proposed Notes will have a maximum term ending no later than January 1, 2025, and will bear interest at a rate or rates not exceeding 3.00% per annum. The Notes will be payable from ad valorem taxes levied on all taxable property in the County.
- Dated this 23rd day of June, 2021. BROWN COUNTY, INDIANA 60079179, 6/23/21, 6/30/21, hspaxlp, 21-116
Government calendar for week of June 16 – LOAN NOT NOT ON AGENDA
- June 21, 2021. Brown County Council — 6:30 p.m., Salmon Room, County Office Building, 201 Locust Lane, and virtually on Zoom. Agenda includes reappropriations of all appropriations that have been approved since Jan. 1; update on job description initiative; report on 2021 voluntary wellness program; Purdue Extension, Kara Hammes, job description for part-time employee; 2022 budget filing update; and other business. Join virtually at https://us06web.zoom.us/j/7390919708, meeting ID 739 091 9708.
What Is a Capital Improvement?
- A capital improvement is the addition of a permanent structural change or the restoration of some aspect of a property that will either enhance the property’s overall value, prolongs its useful life, or adapt it to new uses. Individuals, businesses, and cities can make capital improvements to the property they own. Often capital improvements are given favorable tax treatment and may be exempted from sales tax in certain jurisdictions. (Investopia)
- (1) To acquire land or rights-of-way to be used for public ways or sidewalks.
- (2) To construct and maintain public ways or sidewalks.
Remonstrance not possible on a “Note” with a duration of less than 10 years
Remonstrance Flowchart and Process 181210 – Flow Chart – Petition and Remonstrance Process — 30 Days to file after First Hearing
- Publish notice of preliminary determination hearing at least 10 days before the hearing. *Taxing units with appointed boards, such as libraries, must first receive approval of city, town or county fiscal body (whichever is applicable) before issuance of bond or lease rental agreements. The city, town or county fiscal body approval would occur prior to the preliminary determination hearing in these cases.
- Hold at least two (2) preliminary determination public hearings before adoption of a
resolution/ordinance to issue bonds or enter lease to finance project.