October 2011 - Laserfiche WebLink

Home Browse Search

SBCSC's debt service fund tax rate ranks 169th out of 336 schools in the state with a debt service tax rate. Department's analysis of debt service fund tax rates for 336 school debt service fund tax rates statewide, June 26, 2008. 12. For 2006 -pay -2007, the average total tax rate for schools statewide was $1.5476. SBCSC's total tax rate was $1.5419, which is $0.0057 below the state average. Thus, SBCSC's total tax rate ranks 168th out of 339 schools in the state with a total tax rate. Department's analysis of total tax rates for 339 school total tax rates statewide, June 26, 2008. 13. In accordance with IC 20-46-7-10(c), a taxpayer may petition for judicial review of the final determination of the Department. The petition must be filed in the tax court not more than thirty (30) days after the Department enters its order. 14. Per IC 20-46-7-14, the Department has reviewed the Schedule of Amortization of the $36,165,000 Principal Amount of Proposed First Mortgage Bonds, Series 2008, and determined that January 15, 2011 will be the date of the first principal payment, and January 15, 2009 will be the date of the first interest payment. SBCSC School Property Tax Control Board Hearing Information Sheet, Additional Information, page 1 of 2, January 22, 2008. 15. The Department has received letters of support for the Project; particularly, for the Marquette Primary Center portion of the Project, from City of South Bend Common Council President Timothy A. Rouse, Mayor Stephen J. Luecke, and the County Council of St. Joseph County President Rafael Morton. Letters, June 16-20, 2008. 16. In his June 18, 2008 letter to the Department, Mayor Luecke states that "though the original financing documents called for demolition of the current Marquette Primary Center, the School Corp. at my request has agreed to consider alternate uses for that building. It is my preference to save structures when possible and to find suitable alternate uses when the original use is no longer practical:' Mayor Luecke letter to Commissioner Musgrave, June 18, 2008. 17. Thus, as a condition of this Order, SBCSC, over the next 12 months, shall work in good faith with the City of South Bend to explore viable alternative uses for the existing Marquette school building. 18. Approval of this project; particularly, the portion regarding Marquette Primary Center, is not in any manner an approval of the school's mission to have free instruction for 3- and 4 -year old children in a pre -K Montessori program. The state does not pay for such programs now, and it would take legislative approval for the state to begin paying for such programs. WHEREFORE, based upon the above findings, evidence presented to the Department in case file #08-005, and other records the Department considered relevant, the Department hereby APPROVES: Execution of a lease rental agreement with SBCSC providing for the lease, containing an option to purchase, which provides for the Project described above and in file #08-005. In connection with the undertaking of the Project, the School Corporation will apply a portion of the funds it receives from the sale of the above -referenced schools to the Building Corporation for the cost of any or all or any portion of the improvements to Washington High School and Clay High School described in Page 5 of 6