NOTICE OF CONSOLIDATED PUBLIC HEARINGS BY THE TOWNSHIP BOARD
DECATUR TOWNSHIP OF MARION COUNTY, INDIANA, CONCERNING A PROPOSED BUILDING PROJECT
The citizens of the Decatur Township of Marion County, Indiana (the "Township"), are hereby notified that the Township Board of the Township (the "Board") proposes to enter into negotiations with a nonprofit building corporation (the "Building Corporation"), for financing all or a portion of the cost of (i) the acquisition by the Building Corporation from the Township of any or all portion of the structure and related facilities located generally at 5410 S. High School Rd., Indianapolis, Indiana 46221, located within the Township, together with any additional real property and improvements currently owned by the Township necessary to facilitate the financing of the hereinafter defined Project (collectively, the "Premises"), and (ii) the construction, reconstruction, expansion, renovation, repair, installation, and equipping of improvements upon all or a portion of the Premises comprising a new fire department headquarters, fire station, and/or township government office building (collectively, the "Project").
The estimated cost of the Project is not more than Twenty Million Six Hundred Thousand Dollars ($20,600,000), all or a portion of which will be financed by entering into a proposed lease agreement (the "Lease") with the Building Corporation, which in turn will allow the Building Corporation to issue one or more series of ad valorem property tax lease rental revenue bonds (collectively, the "Bonds") in an original aggregate principal amount not to exceed Twenty Million Three Hundred Fifty Thousand Dollars ($20,350,000), for the purpose of procuring funds to pay for all or a portion of the costs of the Project and the costs associated therewith, including, but not limited to, paying capitalized interest on the Bonds (if necessary) and the expenses in connection with or on account of the issuance of the Bonds. The Bonds will have a term of no longer than twenty (20) years after the issuance of the Bonds, and will bear interest at a rate or rates not exceeding six and one-half percent (6.50%) per annum, the exact rate or rates to be determined by bidding or negotiation. The annual lease rental for the Lease will not exceed One Million Six Hundred Fifty-Five Thousand Dollars ($1,655,000), payable in semiannual installments on January 1 and July 1 of each year during the term of the Lease. The lease rentals due under the Lease will be payable from ad valorem property taxes levied and collected on all taxable property within the Township during the term of the Lease. Each rental installment shall be based on the value of the portion of the Premises (as defined in the Lease) which will be complete and ready for use and occupancy by the Township at the time such semiannual installment is made.
The Township shall pay as further rental for the Premises all taxes and assessments levied against or on account of the Premises or the receipt of lease rental payments and the amount required to reimburse the Building Corporation for any insurance payments made by it. In addition, the Township shall pay for all of the utilities in connection with the operation of the Premises and all rebate costs associated with the Bonds. The Township also shall pay as additional rental all administrative expenses of the Building Corporation, including ongoing trustee fees, continuing disclosure expenses and fees and any other ordinary or extraordinary expenses relating to the Bonds. Simultaneous with the issuance of each series of the Bonds, the annual lease rental will be reduced to an amount equal to an amount sufficient to pay the principal and interest due on all of the Bonds outstanding after the issuance of such Bonds in each twelve-month period together with annual incidental costs as determined by the Building Corporation at the time of the issuance of each such series of the Bonds, payable in semiannual installments.
The Lease gives an option to the Township to purchase that portion of the Premises which is subject to the Lease.
The drawings, plans and specifications, including cost estimates, for the Project, as well as a copy of the proposed Lease, are currently available for inspection by the public on all business days during business hours, at the Decatur Township office, located at 5410 S. High School Road, Indianapolis, Indiana 46221.
Notice is hereby given by the undersigned that the Board will, at meetings to be held on Tuesday, March 24, 2026, and on March 31, 2026, each at 6:00 p.m. (local time), at the Decatur Township office, located at 5410 S. High School Road, Indianapolis, Indiana 46221, conduct consolidated public hearings (1) regarding a preliminary determination to enter into the Lease for the Project, (2) upon the necessity for the execution of the Lease, and upon whether the lease rental provided for therein to be paid by Township to the Building Corporation is a fair and reasonable rental for that portion of the Premises which is subject to the Lease, and (3) regarding the matter of making an additional appropriation to be provided for from the proceeds of the Bonds, together with investment earnings thereon, to be received from the sale to the Building Corporation of certain real property that will be subject to the Lease. At each public hearing, the Board will make certain information available to the public regarding the proposed Lease and the Project as required by law, and will allow members of the public to testify regarding the Project, the preliminary determination to enter into the Lease for the Project, and the proposed additional appropriation. All interested parties are entitled and encouraged to attend to present their testimony and ask any questions relative to all or any of the Project, the Lease and the additional appropriation.
Such hearings may be adjourned to a later date or dates. Subsequent to the public hearing held on March 31, 2026, the Board expects to consider the adoption of resolutions (1) making a preliminary determination, on behalf of the Township, to enter into the Lease to finance the Project for the purposes and pursuant to the terms described in this notice, (2) either authorize the execution of such Lease as originally agreed upon, rescind the proposed Lease, or make modifications therein as may be agreed upon with the Building Corporation, but in no event may the rental exceed the amounts set forth in this notice, and (3) consider adoption of a resolution making an additional appropriation to be provided for from the proceeds of the Bonds, together with investment earnings thereon, for the purposes described herein.
Dated this 13th day of March, 2026.
DECATUR TOWNSHIP OF MARION COUNTY, INDIANA
March 13 2026
LSBN0474335